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