A Registration Statement Is Effective on the 20^thday After Filing

question 3

Multiple Choice

A registration statement is effective on the 20^thday after filing unless:

• A)the SEC is backlogged with statements.
• B)a tombstone ad is issued indicating its demise.
• C)a letter of comment suggesting changes is issued by the SEC.
• D)a syndicate can be formed sooner.
• E)None of the above.

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Definitions:

Proprietorship

A business entity owned and run by one individual, where there is no legal distinction between the owner and the business.

Partnership

An unincorporated business form consisting of two or more persons conducting business as co-owners for profit.

Service Business

A form of enterprise offering non-physical goods or services to its clients instead of tangible products.

Pet Groomer

A professional who provides hygiene and aesthetic care for pets, such as bathing, hair cutting, and nail clipping.