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) a major drop in the quoted market price of the shares of the corporation
B) loss of plant or inventories as a result of fire or flood
C) settlement of litigation when the event giving rise to the claim took place after the balance sheet date
D) sale of a bond or share issue
Correct Answer:
Verified
Correct Answer:
Verified
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