Under the Securities Act of 1933, an initial offering of securities must be registered with the SEC unless
A. The offering is made through a broker-dealer licensed in the states in which the securities are to be sold.
B. The offering prospectus makes a fair and full disclosure of all risks associated with purchasing the securities.
C. The issuer's financial condition meets certain standards established by the SEC.
D. The type of security or the offering involved is exempt from registration.
Answer: D. The type of security or the offering involved is exempt from registration.
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A) 0.72 B) 1.20 C) 1.92 D) None of the above
The two major balance-related audit objectives in testing payroll liabilities are accuracy and cutoff
Indicate whether the statement is true or false