For Companies That Provide Quarterly Reports, How Is the Fourth

question 60

Multiple Choice

For companies that provide quarterly reports, how is the fourth quarter reported?

• A) Every company that reports for the first three quarters must also publish a fourth-quarter report.
• B) No fourth-quarter report is required.
• C) No company may publish a fourth-quarter report.
• D) The SEC requires selected quarterly financial data to be reported separately as a fourth-quarter report.
• E) When fourth-quarter financial statements are provided, special accounting items should be disclosed in the annual financial statements.

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Definitions:

Capital Credit

Credits or allocations given to cooperative members based on their use or purchase levels, representing their ownership equity in the cooperative.

GAAP

Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting used in any given jurisdiction.

Book Values

The value of an asset or liability according to a company's balance sheet, accounting for depreciation or amortization.

Capital Interest

Capital Interest refers to the interest on investment that is considered part of the cost of a fixed asset or is capitalized.