Which of the Following Is True of State Securities Laws

question 4

Multiple Choice

Which of the following is true of state securities laws?

• A) They are also referred to as "clear sky" laws.
• B) They require that securities be registered with federal authorities only.
• C) Securities are only regulated by state laws.
• D) They regulate securities purchased and sold in intrastate commerce.

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Definitions:

Merchandising Company

A business that purchases finished goods for resale, making a profit on the merchandise sold.

Income Statement

A financial statement showing the revenue, expenses, and profits or losses of a business over a particular period.

Freight-In

Freight-In costs are the shipping charges for receiving goods from suppliers, considered part of the inventory cost and included in the cost of goods sold when the inventory is sold.

Purchases Account

A ledger account used to record the amounts spent on acquiring inventory for resale or raw materials for production, excluding any direct labor or overhead costs.