A. Annual listings of preparers, identification numbers, and place of work are required for preparers who employ others to prepare returns. B. The period for which the information return is required is a 12-month period beginning July 1 of each year. C. No information return is actually required to be submitted; a list is made and kept by the employing preparer. D. Information returns of income tax return preparers must be maintained by the preparer for 2 years.
Penalties may be imposed on a tax return preparer for an understatement of tax liability because of a position for which there is not a reasonable belief that the position is more likely than not to be sustained on its merits. But the penalties may be excused if A. The preparer knew or should have known of the position. B. The position was disclosed. C. The understatement was unintentional. D. There is reasonable cause and good faith.
Study Unit 2 Dee is the owner of 12% of the shares of common stock of D&M Corporation that she acquired in Year 1. She is the treasurer and a director of D&M. The corporation registered its securities in Year 2 and made a public offering pursuant to the Securities Act of 1933. If Dee decides to sell part of her holdings in Year 9, the …show more content…
The SEC be notified within 10 days of the first sale. B. The offering be made without general advertising. C. All accredited investors receive the issuer's financial information. D. There be a maximum of 35 investors.
Lecture SIX Outline Study Units 1 & 2 Review BUSN 7131
Under Regulation D of the Securities Act of 1933, which of the following conditions apply to private placement offerings? The securities
A. Cannot be sold for longer than a 6-month period. B. Cannot be the subject of an immediate unregistered reoffering to the public. C. Must be sold only to accredited institutional investors. D. Must be sold to fewer than 20 nonaccredited investors. Bird Corp. made a $5 million exempt common stock offering under Rule 505 of Regulation D of the Securities Act of 1933. Thus, the shares were restricted securities. As the issuer of restricted securities, Bird must
A. Make a reasonable effort to determine that purchasers are buying for themselves and not for others. B. Publicly advertise that the shares are not registered. C. Provide information to all purchasers as to how they can register their shares so that resale will be permitted. D. Apply to the SEC for contingent exemptions so that purchasers may resell their shares as exempt. What form must be filed with the Securities and Exchange Commission (SEC) by non-reporting and unseasoned