Purchase Solution

Multiple choice

Not what you're looking for?

Ask Custom Question

Which of the following subsequent events (post-balance-sheet events) would require adjustment of the accounts before issuance of the financial statements?

Loss of plant as a result of fire
Changes in the quoted market prices of securities held as an investment
Loss on an uncollectible account receivable resulting from a customer's major flood loss
Loss on a lawsuit, the outcome of which was deemed uncertain at year end.

Purchase this Solution

Solution Summary

The solution explains the correct alternative in relation to post balance sheet events

Solution Preview

Loss on a lawsuit, the outcome of which was deemed uncertain at year end. ...

Purchase this Solution


Free BrainMass Quizzes
Understanding the Accounting Equation

These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.

Accounting: Statement of Cash flows

This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.

Production and cost theory

Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

MS Word 2010-Tricky Features

These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.