In relation to a set of 2012 basic financial statements, a subsequent event is one that
A) occurs before the 2012 financial statements are issued.
B) involves uncertainty as to possible gain or loss that will ultimately be resolved in 2013 or later.
C) occurs after the 2012 financial statements are issued.
D) requires an appropriate adjusting entry to be made as of the end of 2012.

Question

Quizplus · Accepted Answer

Subsequent events are events that occur after the balance sheet date but before the financial statements are issued.

In Relation to a Set of 2012 Basic Financial Statements