Subsequent Events Affecting the Realization of Assets Ordinarily Will Require

Multiple Choice

Subsequent events affecting the realization of assets ordinarily will require adjustments of the financial statements under examination because such events typically represent the:

A) culmination of conditions that existed at the balance sheet date.
B) discovery of new conditions occurring in the subsequent events period.
C) final estimates of losses relating to casualties occurring in the subsequent events period.
D) preliminary estimate of losses relating to new events that occurred subsequent to the balance sheet date.