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Which of the following post-balance-sheet events would require adjustment of the accounts before issuance of the financial statements. (in essence, this is a subsequent event
Which of the following post-balance-sheet events would require adjustment of the accounts before issuance of the financial statements. (in essence, this is a subsequent event and the financial statements have not been issued yet)
A. | Loss on a lawsuit, the outcome of which was deemed uncertain at year end. | ||
B. | Changes in the quoted market prices of securities held as an investment as of year end. | ||
C. | Loss on warranty arrangement for a product sold after year end. | ||
D. | Loss of plant because of a fire |
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