Multiple Choice
Which event that occurred after the end of the financial year under audit but prior to issuance of the auditor's report would NOT require disclosure in the financial statements?
A) Loss of plant or inventories as a result of fire or flood
B) Sale of a bond or share issue
C) A major drop in the quoted market price of the shares of the corporation
D) Settlement of litigation when the event giving rise to the claim took place after the balance sheet date
Correct Answer:
Verified
Correct Answer:
Verified
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