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Chapter 20: 10-Q and 10-K Filings Quiz
Test your knowledge of the 10-Q and 10-K filings chapter material!
1 / 10
Earnings per share is simply net income divided by the number of what?
The answer can be found on page 217.
Correct!
2 / 10
A profit and loss statement is another name for what kind of statement?
3 / 10
What part of the 10-K contains similar information to proxy statements?
The answer can be found on page 222.
Correct! Check these sections for information about directors and top executives, including compensation, stock holdings, and potential conflicts of interest.
4 / 10
What is the clause that is among the strongest warnings that a company’s auditor can issue that indicates that a company is in financial trouble?
The answer can be found on page 225.
Correct! The clause can appear under a heading such as, “Basis of presentation,” within the company’s Summary of Significant Accounting Policies. Or just search for the phrase “going concern” and read carefully.
5 / 10
What item number in the 10-K is reserved for future SEC rulemaking?
The answer can be found on page 219.
Correct! Item 4 has no required information, but is reserved by the SEC for future rulemaking.
6 / 10
A balance sheet includes what?
The answer can be found on page 216.
Correct! The balance sheet is divided into two main parts: assets and liabilities.
7 / 10
The statement of cash flows includes cash from what kind of activities?
That's right. The statement of cash flows includes cash from all of these activities. It also includes supplemental information from taxes and interest paid.
8 / 10
You can find similar information about executive compensation in the 10-K as you would find in a proxy statement.
That's right!
9 / 10
In what section of the 10-K will you find legal proceedings?
Correct! This section includes a rundown of all the litigation and regulatory proceedings that the company faces.
10 / 10
A 10-Q is the same thing as a company’s quarterly earnings report.
The answer can be found on page 215.
Correct! There’s overlap between the two, but they are very different.
Your score is
The average score is 65%
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