Spiffy Manufacturing plans to offer a new issue of voting stock to the investing public. Assuming that it properly uses an exemption from registration under the Securities Act of 1933, Spiffy
A. Is also exempt from the antifraud rules of the federal securities laws.
B. Need not supply any offerees and purchasers with any material information about itself or the stock being sold.
C. Need not register with any state securities regulators.
D. Must adhere to both federal antifraud rules and state law.
Answer: D. Must adhere to both federal antifraud rules and state law.
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A) period costs incurred during the period B) various inventory accounts C) cost of goods sold during the period D) revenues generated during the period
Which of the following is an example of a business and sales force promotion?
A) advertising allowance B) free samples C) contests for sales reps D) display allowance E) discount coupons