Under the Securities Act of 1933, accountants who assist in the preparation of the registration statement are civilly liable if the registration statement:

a Contains untrue statements of material factc Omits material facts required by statute or regulationc Omits information that if not given makes the facts stated misleadingd All of the above

Question

Aliyah Mclean

Business

3 August, 01:20

Under the Securities Act of 1933, accountants who assist in the preparation of the registration statement are civilly liable if the registration statement:

a Contains untrue statements of material factc Omits material facts required by statute or regulationc Omits information that if not given makes the facts stated misleadingd All of the above

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Answers (1)

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Curtis Miles · Answer 1

All of the above

Explanation:

Section 11 of the security act of 1933 states that whenever the registration statement becomes effective, the accountant will be liable for errors relating to untrue statement of material fact, omission of a required material act or the inclusion of any other misleading information.

The aim is to ensure that the statement is truthful enough to supply reliable information that will protect the interest of stakeholders and fraud in the sales of securities.