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As of the balance sheet date, your client identified the accounts receivable from its biggest customer as doubtful to collect due to client difficulties. After

As of the balance sheet date, your client identified the accounts receivable from its biggest customer as doubtful to collect due to client difficulties. After year-end, that customer went bankrupt and the receivable had to be fully written off. This would be classified as a:

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Type I subsequent event

Type II subsequent event

Contingent liability

Type II error

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