A Client Has a Calendar Year-End

question 36

Multiple Choice

A client has a calendar year-end. Listed below are four events that occurred after December 31. Which one of these subsequent events might result in adjustment of the December 31 financial statements?

• A) sale of a major subsidiary
• B) adoption of accelerated depreciation methods
• C) write-off of a substantial portion of inventory as obsolete
• D) collection of 90% of the accounts receivable existing at December 31

Identify common symptoms and causes of cystitis.

Understand the recurrence rate of urinary tract infections in older women.

Understand the epidemiology of sexually transmitted diseases (STDs) within specific age demographics.

Identify different types of STDs and their causative pathogens.

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Definitions:

IFRS 9

International Financial Reporting Standard 9, dictating the accounting for financial instruments, including recognition, measurement, and impairment of assets.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered or used but not yet paid for.

Hedge

An investment made to reduce the risk of adverse price movements in an asset, typically involving taking an offsetting position in a related security.

Spot Rate

The current price at which a particular currency can be bought or sold for immediate delivery.