Which Event That Occurred After the End of the Fiscal

question 19

Multiple Choice

Which event that occurred after the end of the fiscal year under audit but prior to issuance of the auditor's report would not require disclosure in the financial statements?

• A) sale of a bond or capital stock issue
• B) loss of plant or inventories as a result of fire or flood
• C) a significant decline in the market price of the corporation's stock
• D) settlement of litigation when the event giving rise to the claim took place after the balance sheet date

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Definitions:

Type A Behavior

A pattern of behaviors and personality traits characterized by high levels of competitiveness, impatience, aggressiveness, and a constant sense of urgency.

Diabetes

A group of diseases that result in too much sugar in the blood, or high blood glucose.

Palliative Medicine

A branch of medicine focused on relieving pain, symptoms, and stress of serious illness, aimed at improving quality of life for patients and their families.

Medicare

A federal program of health insurance for persons 65 years and older.