Which of the following would not be considered a subsequent event to financial statements?
a. A major customer declares bankruptcy subsequent to the balance sheet date, but prior to issuing the statements. This event was not considered on the balance sheet date.
b. A major purchase of a subsidiary to the balance sheet date, but prior to issuing the statements.
c. Substantial debt incurred subsequent to the balance sheet date, but prior to issuing the statements.
d. Substantial stock issued subsequent to the balance sheet date, but prior to issuing the statements.
e. Hiring of employees for a new store, subsequent to the balance sheet date, but prior to issuing the statements.
E
You might also like to view...
A company may switch every year from one method of estimating and writing off uncollectibles to another method
Indicate whether the statement is true or false
The ending inventory for Wyeth Company was overstated by $6,000 in 2014 . The overstatement will cause Wyeth Company's
a. retained earnings to be understated on the 2014 balance sheet. b. 2015 balance sheet not to be misstated c. cost of goods sold to be overstated on the 2014 income statement. d. cost of goods sold to be understated on the 2015 income statement.
Natasha Talbott was interested in a new set of golf clubs. She discussed the various types with some knowledgeable friends and relied on their advice. Natasha's friends were acting as
A. a lifestyle group. B. a social class. C. an economic influence. D. routinized decision-makers. E. a reference group.
Inventory management programs can be facilitated through the use of _____
a. item analysis b. electronic article surveillance c. computerized checkouts d. electronic signature capture