Which of the Following Subsequent Events Would Represent an Event

question 55

Multiple Choice

Which of the following subsequent events would represent an event that provides information about conditions that arose following the date of the financial statements?

• A)Settlement of long outstanding litigation.
• B)Collection of a past due accounts receivable.
• C)Loss of inventory as a result of a flood.
• D)An additional tax assessment on prior income.

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Definitions:

Positive Punishment

The presentation of a stimulus following a given behavior in order to decrease the frequency of that behavior.

Operant Conditioning

A method of learning that employs rewards and punishments for behavior. Through operant conditioning, an individual makes an association between a particular behavior and a consequence (either a reward or punishment).

Reprimanding

The act of expressing to someone that they have done something wrong, often in a stern or formal manner.

Rude

Exhibiting or having a discourteous or impolite demeanor or behavior, often characterized by a lack of respect for others.