Small Proprietary Companies Are Relieved of Many of the Reporting

question 44

Multiple Choice

Small proprietary companies are relieved of many of the reporting requirements to which public companies are subject. A company is deemed to be 'small' if it satisfies two of three specified criteria. Which of the following is not one of the criteria?

• A)It has consolidated gross profits of less than $30 million.
• B)Its consolidated gross assets at the end of the financial year are less than $12.5 million.
• C)It employs fewer than 50 employees at the end of the financial year.
• D)It has consolidated gross operating revenue of less than $25 million

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Definitions:

Affiliation

The need to form connections with others or be part of a group, often considered a fundamental human motivation.

Appraisal

The process of evaluating the significance of a person, place, thing, or situation and determining its relevance to one's well-being.

Amae

A Japanese concept referring to an individual's ability to depend on another's benevolence, often seen as a desirable trait in relationships within Japanese culture.

Anatta

Anatta is a Buddhist concept referring to the doctrine of "not-self", the notion that there is no unchanging, permanent self, soul, or essence in living beings.