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:

Temporal

Temporal pertains to time, including its measurement, its passage, and the sequencing of events.

Frontal

Pertaining to the front part of something, especially referring to the frontal lobe of the human brain, which is involved in executive functions such as decision making.

Spoken Language

A system of communicating using sounds, words, and grammar verbally to convey meaning and express ideas.

Wernicke's Area

is a region of the brain associated with the understanding of spoken language, located in the temporal lobe.