APR Accreditation -Business Literacy Exam Questions with Complete Solutions Rated A+
Business Literacy - Answers The ability to use financial and business information as the basis for decisions that help an organization achieve success.
10-K report (annual report) - Answers An annual report that ...
Business Literacy - Answers The ability to use financial and business information as the basis for
decisions that help an organization achieve success.
10-K report (annual report) - Answers An annual report that provides a comprehensive overview of a
company. The 10-K must be filed within 60 days after the close of the company's fiscal year. The report
contains crucial information, such as company's history, organizational structure, equity, holdings,
earnings per share, subsidiaries, footnotes, corporate exhibits, etc. Key section is Management's
Discussion and Analysis of Financial Conditions (MD&A).
Management's Discussion and Analysis of Financial Conditions (MD&A) - Answers A key section of the
10-K annual report, the MD&A is where companies list strengths, weaknesses, opportunities, and
threats facing the company and its industry.
10-Q report (quarterly report) - Answers A quarterly financial report containing unaudited financial data.
The 10-Q is due 35 days after the close of each of the first three fiscal quarters. There is no filing after
the fourth quarter because that is when the 10-K is filed.
8-K report (current report) - Answers 8-K filings are filed for unscheduled material or corporate events of
importance to the shareholders and the SEC. this is a great report to read to determine any significant
problems the company may be facing, such as litigation, executive malfeasance, or other problems.
Proxy statements - Answers Otherwise known as Form Def 14A, the proxy statement is produced for the
benefit of shareholders prior to the Annual Meeting of Shareholders so that they can make informed
decisions about matters due to be discussed at the Annual Meeting. Issues covered can include
proposals for new additions to the board of directors, information on directors' and executives' salaries,
info on bonus and option plans for directors and key managers, and any declarations made by
management.
Regulation Fair Disclosure (Regulation FD) - Answers Requires that all publicly traded companies disclose
material information to all investors at the same time. Also opened quarterly analyst conference calls to
small investors.
Sarbanes Oxley - Answers Legislation that covers corporate auditing accountability, responsibility, and
transparency. Provisions within this law affect how information is disclosed. PR must know what a
company must disclose and when.
Securities Act of 1933 and Security Exchange Act of 1934 - Answers Enacted following the 1929 stock
crash, these acts contain checks and balances for securities-related actions. Certain sections of these
laws directly relate to PR practice.
Rule 5C - Answers Part of the Security Act of 1933, this led to the embargo of publicity materials during a
specific timeframe called the gag period.
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