Which of the Following Subsequent Events Will Be Least Likely

question 80

Multiple Choice

Which of the following subsequent events will be least likely to result in an adjustment to the financial statements?

• A)Culmination of events affecting the realization of accounts receivable owned as of the balance sheet date.
• B)Culmination of events affecting the realization of inventories owned as of the balance sheet date.
• C)Material changes in the settlement of liabilities that were estimated as of the balance sheet date.
• D)Material changes in the quoted market prices of listed investment securities since the balance sheet date.

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Definitions:

Food and Drug Administration

A federal agency of the United States Department of Health and Human Services, responsible for protecting and promoting public health through the control and supervision of food safety, tobacco products, dietary supplements, prescription and over-the-counter pharmaceutical drugs, vaccines, biopharmaceuticals, medical devices, and veterinary products.

Consumer Product Safety Commission

A U.S. federal agency responsible for protecting the public against unreasonable risks of injuries and deaths associated with consumer products.

National Highway Transportation Safety

A U.S. government agency that focuses on achieving the highest standards of safety on the nation's roads and highways.

Consumer Product Safety Commission

The U.S. government agency that monitors and regulates the safety of products sold to consumers, aiming to prevent harm from defective or dangerous items.