Which of the following is an example of a subsequent event? a. A bond issuance after the

Question:

Which of the following is an example of a subsequent event?

a. A bond issuance after the balance sheet date but prior to issuance of the financial statements.

b. A cybersecurity attack that occurred in the third quarter of the fiscal year.

c. Legal action that was settled in the last month of the fiscal year.

d. A major customer declaring bankruptcy two months before the client’s year-end.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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