The SEC's "plain English" rules apply to all financial statements submitted to that agency.

Question

Quizplus · Accepted Answer

The SEC's "plain English" rules primarily apply to certain parts of prospectuses and reports filed with the SEC, such as the narrative sections, rather than to the financial statements themselves. Financial statements must adhere to the accounting standards such as GAAP, which have their own presentation requirements.

The SEC's "Plain English" Rules Apply to All Financial Statements