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CH 6 SCHOLARSHIP PLAN DISCLOSURE DOCUMENTS (Summary (scholarship plan…
CH 6 SCHOLARSHIP PLAN DISCLOSURE DOCUMENTS
Summary
scholarship plan require
Propectus
which include
Plan summary (resullt/condition)
A
disclosure document
four primary financial statement
the Statement of
Net Assets,
the Statement of
Operations,
the Statement of
Changes in Net Assets
the Statement of
Investment Portfolio
Notes to the Financial Statements
Nature of operations
Significant accounting policies
Investments
Financial risk
Related party transactions
Questions
textbook
1 Which of the following is
not true
about the Scholarship Plan prospectus?
true
The prospectus, which must be given to every subscriber, is the most important disclosure document that gives investors all the information they need to make an informed decision about the purchase
not true
The prospectus is updated monthly, based on performance of the Plan’s investments.
How do
securities regulators
deal with the prospectus?
The securities commission reviews and, if appropriate, issues a “receipt” for the prospectus before it becomes effective.
securities commission doesnt write the prospectus. only review
Which of the following is not true about the
Statement of Net Assets?
explain
like a company’s balance sheet which show the difference between the Plan’s assets and liabilities also show financial position of a Scholarship Plan at certain time. But not doesnt sent to subscribers every month for their account.
Which is
not an inflow
to a Plan as shown in the
Statement of Changes in Net Assets?
outflow :EAPs
inflow: CESGs received /Subscriber deposits/ Amounts transferred from other Plans.
Which of the following is true about
SEDAR
?
It offers free on-line access to a Scholarship Plan’s disclosure documents and its available to the general public