The information in E5-5 indicated that the Cendant Corporation press release was issued on February 13, yet

Question:

The information in E5-5 indicated that the Cendant press release was issued on February 13, yet the company's year-end was six weeks earlier on December 31. Why did the company wait so long to issue the press release? Why weren't the financial results announced on January 1?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...