Which of the Following Can Illustrate a Subsequent Event That

question 45

Multiple Choice

Which of the following can illustrate a subsequent event that requires disclosure but not adjustment?

• A)Settlement of long outstanding litigation.
• B)Collection of a customer debt that had been written off.
• C)Loss of inventory as a result of a flood occurring after year-end.
• D)An additional tax assessment on prior income.

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Definitions:

Amygdala

A section of the brain that is involved in emotions, emotional behavior, and motivation.

Electrical Stimulation

The use of electrical impulses to stimulate nerves or muscles for therapeutic purposes.

Learned Taste Aversion

A conditioned response where an individual develops a dislike or avoidance of a specific food that has been associated with an unpleasant experience, such as illness.