Multiple Choice
A client has a calendar year-end.Listed below are four events that occurred after December 31.Which of these subsequent events might result in adjustment of the December 31 financial statements?
A) adoption of accelerated depreciation methods
B) write-off of a substantial portion of inventory as obsolete
C) collection of 90% of the accounts receivable existing at December 31
D) sale of a major subsidiary
Correct Answer:
Verified
Correct Answer:
Verified
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