The _____ Is a Law That Requires Full Disclosure of Information

question 42

Multiple Choice

The _____ is a law that requires full disclosure of information on new issues and registration statements of financial information.

• A)Securities Exchange Act of 1934
• B)Securities Industry Act of 1936
• C)National Securities Dealers Act of 1934
• D)Securities Act of 1933
• E)Investment Company Act of 1940

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Definitions:

Journal

An initial record in which financial transactions are entered in chronological order before posting to ledgers.

Debit

An entry recorded on the left side of a double-entry bookkeeping system that increases an asset or expense account, or decreases a liability, equity, or revenue account.

Credit

An accounting entry that either decreases assets or increases liabilities and equity on a company's balance sheet.

Salaries Expense

The total amount of salary payments made to employees, recognized as an expense in the accounting period in which the employees' services are rendered.