State the Two Primary Types of Subsequent Events That Require

question 56

Essay

State the two primary types of subsequent events that require consideration by management and evaluation by the auditor, and give two examples of each type.

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Definitions:

White Anglo-Saxon Protestants (WASPs)

A demographic group in the United States characterized by its predominantly British ancestry, Protestant faith, and historically socioeconomically privileged status.

Irish

Pertains to the people, culture, or characteristics of Ireland, a country located on the island of Ireland in the North Atlantic.

Scots

Refers to the people native to Scotland, a country within the United Kingdom, or individuals of Scottish descent.

Jones Act

A U.S. federal law that regulates maritime commerce in American waters and between U.S. ports, requiring goods transported by water between U.S. ports to be carried on U.S.-flagged ships.