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Emma overheard the driver education instructor rant and rave about how the girls in Emma's group were the worst drivers he'd ever had the misfortune to teach in his 30 years of teaching high school students how to drive. When it was Emma's turn to practice her driving skills with the instructor, she performed worse than usual, forgetting to use turn signals, turning the wheel the wrong way when backing up, and running over two plastic cones when attempting to parallel park. What is the MOST likely explanation for Emma's poor performance behind the wheel?
Subsequent Events
Subsequent events are events that occur after the balance sheet date but before the financial statements are issued or available to be issued, potentially impacting the financial statements.
Financial Information
Financial information encompasses all the data concerning the financial status, performance, and changes in financial position of an entity, useful for making economic decisions.
Full Disclosure
An accounting principle that mandates the reporting of all relevant financial information in the company's financial statements that might affect a reader's understanding of those statements.
Stockholders' Equity
The residual interest in the assets of a corporation after deducting liabilities, representing the owners' share.
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