Fresh Fruit Company has assets of less than $10 million and fewer than fifty shareholders. Gourmand Pastries Inc. has assets of more than $50 million and more than five hundred shareholders. The Securities Exchange Act of 1934 applies to

Question

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The Securities Exchange Act of 1934 primarily applies to companies that have assets exceeding $10 million and more than 500 shareholders, which describes Gourmand Pastries Inc. but not Fresh Fruit Company.

Fresh Fruit Company Has Assets of Less Than $10 Million