Subsequent Events Flashcards
1
Q
Subsequent events
A
Subsequent events occur after the balance sheet date but prior to the issuance (or availability for issuance) of the financial statements.
2
Q
Subsequent events include which of the following?
A
3
Q
Unrecognized Subsequent events
(Need to be disclosed)
A
Sale of a bond or capital stock issue.
A business conbination
settlement litigation after the BS date
Loss of inventory due to a natural disaster
Loss of receivables afert the BS date
Long lived assets clasiffied as held for sale
Extinguished of debe afer the BS date
