ANNUAL REPORT Definition

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ANNUAL REPORT is the requirement for all public companies to file an annual report with the Securities and Exchange Commission detailing the preceding years financial results and plans for the upcoming year. Its regulatory version is called "Form 10 K." The report contains financial information concerning a companys assets, liabilities, earnings, profits, and other year-end statistics. The annual report is also the most widely-read shareholder communication.

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BENFORD'S LAW is a mathematical law that applies to any population of numbers derived from other numbers (such as the dollar amount of a sale, found by multiplying the quantity sold times the unit price). It holds that 30% of the time the first non-zero digit of this derived number will be one, and it will be a nine only 4.6% of the time. Benford's law is used by auditors to identify fictitious populations of numbers.

MUTUAL FUND, according to the SEC, is a company that brings together money from many people and invests it in stocks, bonds or other assets. The combined holdings of stocks, bonds or other assets the fund owns are known as its portfolio. Each investor in the fund owns shares, which represent a part of these holdings.

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