Which of the Following Statements Is Regarding a Type 1

question 28

Multiple Choice

Which of the following statements is regarding a type 1 subsequent event?

• A)they may be of such significance as to require disclosure in the financial report.
• B)they are events that do not result in changes to amounts in the financial report.
• C)they occur before the end of the client's financial year.
• D)the financial report is adjusted for any material changes in estimates from these types of events.

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Definitions:

Cognitive-behavioral Therapy

A form of psychological treatment that addresses dysfunctional emotions, behaviors, and cognitive processes through a goal-oriented, systematic procedure.

Monoamine Oxidase Inhibitors

A class of medications used to treat depression by inhibiting the action of monoamine oxidase, thereby increasing the levels of certain neurotransmitters in the brain.

Agoraphobia

An anxiety disorder characterized by an intense fear of places and situations where it might be difficult to escape or get help.

Toxicity

The degree to which a substance can harm humans or animals, with effects ranging from minor irritation to lethal outcomes.