As Amended in 2008, SEC Rules Define a Small Business

question 50

True/False

As amended in 2008, SEC rules define a small business issuer as a noninvestment company with less than $10 million in public float.

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Definitions:

Wages

Financial compensation paid by an employer to an employee for their labor, typically calculated on an hourly, daily, or piecework basis.

Salaries

Regular payments made to employees for their labor, typically on a monthly or biweekly basis, not directly related to the specific hours worked.

Fringe Benefits

Additional benefits, beyond a base salary or wages, provided to employees, such as health insurance, pensions, or company cars.

Profit

The financial gain obtained when the revenue from business activities exceeds the expenses, costs, and taxes involved in maintaining the business.