Ordinarily, type 1 subsequent events require: A) adjustment. B) adjustment and disclosure. C) a disclaimer. D) inclusion as a reportable condition. E) Disclosure.

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Type 1 subsequent events are events that provide additional evidence about conditions that existed at the date of the balance sheet and affect the estimates inherent in the process of preparing financial statements. These events require adjustment of the financial statements to reflect the new evidence.

Ordinarily, type 1 Subsequent Events Require