Once the Final Outcome of a Transaction or Event Occurs

Multiple Choice

Once the final outcome of a transaction or event occurs _______.

A) it is expected that there will be a difference between the outcome of the accounting estimate and the amount originally recognized or disclosed in the financial statements
B) it is expected that there will be no difference between the outcome of the accounting estimate and the amount originally recognized or disclosed in the financial statements
C) the amount should be adjusted to match the estimated balance
D) the auditor should not concern themselves with investigating abnormally large variances