Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

9. Current Liabilities

Types of Liabilities

Financial Accounting

9. Current Liabilities

Types of Liabilities

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Multiple Choice

Before the Kiss Corporation can issue stocks or bonds, it must register the issue with:

The Internal Revenue Service (IRS)

The Financial Accounting Standards Board (FASB)

The Securities and Exchange Commission (SEC)

The Federal Reserve Bank

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Verified step by step guidance

Understand the context: When a corporation plans to issue stocks or bonds, it must comply with regulatory requirements to ensure transparency and protect investors.

Learn about the Securities and Exchange Commission (SEC): The SEC is the primary regulatory body responsible for overseeing securities markets in the United States. It ensures that companies provide accurate and complete information to investors.

Recognize the role of the SEC in registration: Before issuing stocks or bonds, a corporation must file a registration statement with the SEC. This includes detailed financial information, risk factors, and other disclosures required by law.

Differentiate the SEC from other entities: The IRS handles tax-related matters, the FASB sets accounting standards, and the Federal Reserve Bank manages monetary policy. None of these entities are responsible for securities registration.

Conclude that the correct answer is the SEC: Based on the explanation, the Securities and Exchange Commission is the entity with which corporations must register their stock or bond issues.