WSP Financial Statement analysis
Exam Questions & Answers (Grade
A+)
Both the 10-K and 10-Q filings are audited. -
correct answer ✅False, the 10-Q is unaudited but 10-K is
All publicly traded companies and private companies with revenues
greater than $850m must file 10-K's annually with the SEC. -
correct answer ✅False.
Private companies do not need to file 10-K's.
For large accelerated filers, 10-K's must be filed no later than 90
days after the fiscal year-end date. -
correct answer ✅False.
For large accelerated filers, 10-K's must be filed no later than 60
days after the fiscal year-end date.
For accelerated filers, 10-K's must be filed no later than 90 days
after the fiscal year end date. -
correct answer ✅TRUE
,WSP Financial Statement analysis
Exam Questions & Answers (Grade
A+)
a class of reporting company which has shorter deadlines to file
their periodic reports -
correct answer ✅If its revenues are $100 million or more, it will
be an accelerated filer
It requires that the company has a public float of between $75
million and $700 million, has been filing periodic reports for at least
12 months, has previously filed at least one annual report (e.g.
Form 10-K), and is not a smaller reporting company.
public float -
correct answer ✅The portion of a company's outstanding shares
that is in the hands of public investors, as opposed to company
officers, directors, or stockholders that hold controlling interest
Companies often produce glossy annual reports. These reports can
contain information not included in the 10-K. -
correct answer ✅TRUE
Part I of the 10-K contains the Management Discussion & Analysis
section, while Part II contains the Financial statements and
Footnotes. -
, WSP Financial Statement analysis
Exam Questions & Answers (Grade
A+)
correct answer ✅False, part 2 has md&A and Financial
statements and Footnotes.
how to get up to speed on a business you may not be familiar with
using 10-k -
correct answer ✅use the item 1 business section of the
company's 10-k
Unresolved Staff Comments -
correct answer ✅are red flags - SEC Comments outstanding for
more than 6 months
useful parts of part 1 -
correct answer ✅business section and risk factors, item 1 and
item 1a
selected financial data -
correct answer ✅should be considered a core part of the 3
statement analysis
Exam Questions & Answers (Grade
A+)
Both the 10-K and 10-Q filings are audited. -
correct answer ✅False, the 10-Q is unaudited but 10-K is
All publicly traded companies and private companies with revenues
greater than $850m must file 10-K's annually with the SEC. -
correct answer ✅False.
Private companies do not need to file 10-K's.
For large accelerated filers, 10-K's must be filed no later than 90
days after the fiscal year-end date. -
correct answer ✅False.
For large accelerated filers, 10-K's must be filed no later than 60
days after the fiscal year-end date.
For accelerated filers, 10-K's must be filed no later than 90 days
after the fiscal year end date. -
correct answer ✅TRUE
,WSP Financial Statement analysis
Exam Questions & Answers (Grade
A+)
a class of reporting company which has shorter deadlines to file
their periodic reports -
correct answer ✅If its revenues are $100 million or more, it will
be an accelerated filer
It requires that the company has a public float of between $75
million and $700 million, has been filing periodic reports for at least
12 months, has previously filed at least one annual report (e.g.
Form 10-K), and is not a smaller reporting company.
public float -
correct answer ✅The portion of a company's outstanding shares
that is in the hands of public investors, as opposed to company
officers, directors, or stockholders that hold controlling interest
Companies often produce glossy annual reports. These reports can
contain information not included in the 10-K. -
correct answer ✅TRUE
Part I of the 10-K contains the Management Discussion & Analysis
section, while Part II contains the Financial statements and
Footnotes. -
, WSP Financial Statement analysis
Exam Questions & Answers (Grade
A+)
correct answer ✅False, part 2 has md&A and Financial
statements and Footnotes.
how to get up to speed on a business you may not be familiar with
using 10-k -
correct answer ✅use the item 1 business section of the
company's 10-k
Unresolved Staff Comments -
correct answer ✅are red flags - SEC Comments outstanding for
more than 6 months
useful parts of part 1 -
correct answer ✅business section and risk factors, item 1 and
item 1a
selected financial data -
correct answer ✅should be considered a core part of the 3
statement analysis
