Which of the Following Statements Is Correct Regarding a Type

question 64

Multiple Choice

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

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

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Definitions:

TIFF

Tagged Image File Format, a flexible and adaptable file format for storing images, including high-quality photographs and scans.

Web App Development

The creation of application programs that reside on remote servers and are delivered to the user's device over the Internet.

Visual Basic

A programming language and integrated development environment from Microsoft for developing a variety of applications.

CSS

Cascading Style Sheets, a language used for describing the look and formatting of a document written in a markup language like HTML.