All of the Following Are Examples of Subsequent Events That

question 100

Multiple Choice

All of the following are examples of subsequent events that would be disclosed in the footnotes to the financial statements except

• A) fire or flood loss
• B) a litigation settlement
• C) a bond issuance after the balance sheet date
• D) the write off of an uncollectible account

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Definitions:

Prevented

Stopped something from happening or arising.

Managed

Handled or controlled with a degree of skill, such as managing resources or an event.

Practical Experience

Hands-on or direct involvement in day-to-day tasks, which aids in learning and development of skills.

Education

The systematic process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits.