According to the Securities and Exchange Commission (SEC), Per Se

question 7

Multiple Choice

According to the Securities and Exchange Commission (SEC) , per se fraudulent statements include those that:

• A) tout securities and make unreasonable forecasts.
• B) specify the use of the proceeds of the issuance.
• C) outline the annual return on an investment.
• D) give full details about the securities to be offered.

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Definitions:

Adjusted Trial Balance

A financial statement that lists all accounts and their balances after adjustments have been made.

Expense Accounts

Accounts that track the costs of operating a company including costs of goods sold, operating expenses, and non-operating expenses.

Owner's Capital

The total assets contributed by the owner of a company plus the retained earnings minus withdrawals made by the owner.

Journalize Closing Entries

The process of recording year-end closing entries in the journal to prepare the accounts for the next fiscal period.