It doesn't matter if one goes ins and outs of US on any kind of non-immigrant visa regardless of how many times, but if that person will try to adjust status within one year of his/her last arrival/entry into the US then USCIS will send one copy of this Form to US consulate in aborad where applicant last obtained US visa to verify all the information on that form. It's noted in USCIS interim memo and the procedures adjusting status.
Also, people should always be truthful on this form (and any other forms) regardless of some information has changed over the time or companies don't exit anymore or whatever. Whether USCIS will be able to verify or not, applicants must be truthful in provinding any information on there because those information is provided under penalty of perjury and not been untruthful with USCIS could lead to a permanent bar to having green card.