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Activewear Fashion Company orders and broadcasts a 30 second advertisement during a major sporting event for $2.5 million. The company is legally obligated to pay

Activewear Fashion Company orders and broadcasts a 30 second advertisement during a major sporting event for $2.5 million. The company is legally obligated to pay for this advertisement but has not yet done so.

A)This is an internal unobservable event so it does not affect the Balance Sheet of Activewear Fashion Company.

B)This is an external unobservable event so it does not affect the Balance Sheet of Activewear Fashion Company.

C)This is an internal observable event that affects the Balance Sheet of Activewear Fashion Company.

D)This is an external observable event that affects the Balance Sheet of Activewear Fashion Company.

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