Whenever Subsequent Events Are Used to Evaluate the Amounts Included

question 1

Multiple Choice

Whenever subsequent events are used to evaluate the amounts included in the statements,care must be taken to distinguish between conditions that existed at the balance sheet date and those that came into being after the end of the year.The subsequent information should not be incorporated directly into the statements if the conditions causing the change in valuation

• A)did not take place until after year-end.
• B)took place before year-end.
• C)occurred both before and after year-end.
• D)are reimbursable through insurance policies.

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Definitions:

PEM

Protein-Energy Malnutrition, a nutritional deficiency disorder caused by a lack of dietary protein and energy.

Malnourished

Suffering from malnutrition due to not getting enough food or not getting the right sort of food.

Formula

A mathematical relationship or rule expressed in symbols.

Population

A term used to describe a group of individuals of the same species living in a particular area, or more broadly, the inhabitants of a particular region or country.