Assuming That None of the Following Have Been Disclosed in the Financial

question 7

Multiple Choice

Assuming that none of the following have been disclosed in the financial statements, the most appropriate item for footnote disclosure is the

• A) Collection of all receivables subsequent to year end
• B) Revision of employees' pension plan
• C) Retirement of president of company and election of new president
• D) Material decrease in the advertising budget for the coming year and its anticipated effect upon income

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