Some States Have Passed "Plain English" Laws That Require Businesses

question 18

True/False

Some states have passed "Plain English" laws that require businesses to write policies, warranties, and contracts in language comprehensible to average readers.

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Definitions:

Investment Company Act

A federal law regulating the organization and activities of investment companies, primarily to protect investors from conflicts of interest and other abuses.

Regulation S-X

A regulation by the U.S. Securities and Exchange Commission that sets forth the form and content of financial statements required to be filed with the commission.

Regulation S-K

A regulation under the U.S. Securities Act that outlines reporting requirements for various SEC filings used by public companies.

Staff Accounting Bulletins (SABs)

Staff Accounting Bulletins (SABs) are issued by the SEC to provide guidance on accounting practices and disclosure requirements.