Which of the following statements is not correct concerning summary annual reports?
A)A summary annual report omits much of the financial information included in an annual report.
B)When a company issues a summary annual report,the proxy materials it sends to shareholders must include a set of fully audited statements and other required financial disclosures.
C)A summary annual report generally has more nonfinancial pages than financial pages.
D)A summary annual report is adequate for reasonable analysis.
E)The concept of a summary annual report was approved by the Securities and Exchange Commission.

Question

Quizplus · Accepted Answer

A summary annual report, by omitting much of the detailed financial information found in a full annual report, does not provide enough data for a comprehensive or reasonable analysis.

Which of the Following Statements Is Not Correct Concerning Summary