A more thorough explanation:

Definition: A report that a company files with the Securities and Exchange Commission (SEC) every year. The report includes important financial information about the company, such as audited financial statements, a description of the company's business and financial condition, and other financial data.

Example: Apple Inc. files a 10-K report with the SEC every year. In the report, Apple provides detailed information about its financial performance, including its revenue, expenses, and profits. The report also includes information about Apple's products and services, its competitors, and its plans for the future.

Explanation: The example illustrates how a company like Apple uses a 10-K report to provide important financial information to investors and the public. The report helps investors make informed decisions about whether to buy or sell the company's stock. It also helps the public understand how the company is doing financially and what its plans are for the future.