For Audit Purposes, Subsequent Events Are Defined as Events That

question 21

Multiple Choice

For audit purposes, subsequent events are defined as events that occur after the ________.

• A) balance sheet date
• B) date of the audit report
• C) balance sheet date but prior to the date of the audit report
• D) date of the audit report and concern contingencies that are not reflected in the financial statements

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Definitions:

Defrauded

Having been deceived or tricked out of money, rights, goods, or property unlawfully.

Forgery

The action of creating or altering a document, signature, or other objects with the intent to deceive by passing it off as genuine.

Compelled to Testify

The requirement for a witness to give evidence in a legal proceeding, even if unwilling, under threat of legal penalty.

Criminal Defendant

An individual charged with a criminal offense, standing trial or awaiting charges in a court of law.