Question

Jewelcorp just began trading securities. The company is a closely-held corporation that is not trading stock on a national securities exchange. It has several dozen shareholders and $9 million in assets. Which of the following is true concerning the company’s requirement to report to the SEC?

Answer 1

The statement that is is true concerning the company’s requirement to report to the SEC is that they a)Required to report major business developments and must file annual and quarterly financial reports.

What is sec?

SEC serves as the organization that protects investors through enforcement of   nation's securities laws,  against wrongdoers, and overseeing our securities markets .

Therefore, option A is correct.

Other options for the question are:

a)Required to report major business developments and must file annual and quarterly financial reports.

b)Not required to report information to the SEC.

c)Requirement to file depends on the company’s assets and shareholder base.

d)Must file annual and quarterly financial reports

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