An Event Occurring After Balance Sheet Date Is a Circumstance

question 59

True/False

An event occurring after balance sheet date is a circumstance that has arisen,or information that has become available,after reporting date but before the time of completion of the report:

---

Definitions:

Supply

Refers to the total amount of a product or service that is available to consumers.

Wage

The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, received by an employee from an employer.

College Attendance

The act of being enrolled and participating in classes or academic activities in a college or university.

Demand for Professors

The need or desire for academic professionals who teach and conduct research in higher education institutions.