Introductory Business Law CLEP Exam 2025 – Your All-in-One Guide to Master the Test!

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Question: 1 / 400

What are corporations required to file with the SEC annually?

10-K report

Corporations are required to file a 10-K report with the SEC annually. This report is a comprehensive summary of the company's financial performance and includes information such as income, expenses, assets, and liabilities. It also typically includes a section on management discussion and analysis and disclosure of any risks and uncertainties.

B While 990 reports are also filed with the SEC, they are specific to tax-exempt organizations, not corporations. This report provides information on the organization's finances, activities, and governance.

C: CCR reports, short for Central Contractor Registration, are filed with the government in order to do business with them. This is not a requirement for corporations filing with the SEC.

D: The Sarbanes-Oxley Act is a law that sets standards for financial reporting by public companies but it does not need to be filed with the SEC annually. It is the

Introductory Business Law CLEP Exam 2025 – Your All-in-One Guide to Master the Test!

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