Legal Environment 4th Edition by Jeffrey Beatty, Susan Samuelson

تمرين 8

CPA QUESTION Pace Corp. previously issued 300,000 shares of its common stock. The shares are now actively traded on a national securities exchange. The original offering was exempt from registration under the Securities Act of 1933. Pace has $2.5 million in assets and 425 unaccredited shareholders. With regard to the Securities
Exchange Act of 1934, Pace is:
(a) required to file a registration statement because its assets exceed $2 million in value.
(b) required to file a registration statement even though it has fewer than unaccredited 500 shareholders.
(c) not required to file a registration statement because the original offering of its stock was exempt from registration.
(d) not required to file a registration statement unless insiders own at least 5 percentof its outstanding shares of stock.