What Is the Minimum Number of Years for Which Publicly

question 97

Multiple Choice

What is the minimum number of years for which publicly traded companies must include the following statements in their annual report filed with the SEC? Balance Sheet Income Statements and Statements of Cash Flows

• A)3 Years 3 Years
• B)2 Years 2 Years
• C)2 Years 3 Years
• D)3 Years 2 Years

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Definitions:

Express Warranty

A seller’s or lessor’s oral or written promise, ancillary to an underlying sales or lease agreement, as to the quality, description, or performance of the goods being sold or leased.

Reasonable Buyer

A hypothetical person who exercises average care, judgment, and information in their purchasing decisions, often referenced in legal contexts.

Seller's Representation

Statements made by a seller regarding the quality, condition, or legal status of the goods or property being sold.

Warranties of Title

Guarantees provided by a seller that they have the legal right to sell the property and that it is free from undisclosed encumbrances.