Which Regulation Created the Securities and Exchange Commission

question 18

Multiple Choice

Which regulation created the Securities and Exchange Commission?

• A) Securities Act of 1933
• B) Securities Exchange Act of 1934
• C) Investment Company Act of 1940
• D) Garn-St. Germain Depository Institutions Act of 1982

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Definitions:

Accounting Cycle

The series of steps followed by an accounting department to collect, process, and report financial transactions each period.

Closing Entries

Accounting journal entries made at the end of an accounting period to transfer temporary accounts' balances to permanent accounts, thus preparing the books for the next period.

Accounting Cycle

The process of recording and processing all financial transactions of a company, from when the transaction occurs, to its representation in the financial statements, followed by closure of accounts.

Work Sheet

A document used by accountants to prepare adjusting entries and to draft a company's financial statements.