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21. Which of the following sources of information should an analyst consider the least reliable?
A. Form 10-Q.
B. Proxy statement.
C. Corporate press release.
Ans: C.
Corporate press releases are written by management and are often view as public relations or sales materials because of the great possibility of inherent management bias in such documents. Often, little or none of the material is independently reviewed by outside auditors. Such documents are not mandated by the securities regulators.
A and B are incorrect. Form 10-Q (quarterly financial statements) and Proxy statement are mandatory SEC filings in the U.S., which inherently increases their reliability given the penalties that can be imposed by the SEC if any serious irregularities are subsequently found. |
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发表于 2013-9-19 17:09
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