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Public companies, or issuers, in the U.S. are ________. A. required by the federal government to...

Question:

Public companies, or issuers, in the U.S. are ________. A. required by the federal government to have quarterly financial statement audits B. required by the federal government to have annual financial statement audits C. required by the federal government to have semi-annual financial statement audits D. not required by the federal government to have financial statement audits

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Answers

B. required by the federal government to have annual financial statement audits

In the United States, publicly traded companies must submit a Schedule 10-K to the U.S. Securities and Exchange Commission annually. One of the elements required to complete the 10-K is to provide audited financial statements. Public businesses also are required to submit quarterly reports, or 10-Qs, but this form does not require audited financial statements.

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