Wool, Inc., is a reporting company under the Securities Exchange Act of 1934. The only security it has issued is its voting common stock. Which of the following statements is true?
A. It is unnecessary for the required annual report (Form 10-K) to include audited financial statements.
B. Any person who owns more than 5% of Wool's common stock must file a report with the SEC.
C. Because Wool is a reporting company, it is not required to file a registration statement under the Securities Act of 1933 for any future offerings of its common stock.
D. Wool need not file its proxy statements with the SEC because it has only one class of stock outstanding.
Answer: B. Any person who owns more than 5% of Wool's common stock must file a report with the SEC.
You might also like to view...
Which of the following is not an advantage of dominant masculinity?
a. Men have better health than women. b. Men have more role models and access to networking opportunities. c. Men experience less workplace discrimination than women. d. Society tends to see successful mangers and politicians more as being male than female
When an escrow agent holds the buyer's deposit money because of a dispute between the buyer and seller, the escrow agent can release the funds in which of the following circumstances:
A: Upon receipt of written instructions signed by both the buyer and seller; B: Upon receipt of an arbitrator's award; C: Upon receipt of a court ruling; D: In any of the above circumstances.