Type II subsequent events are those events that _______.
A)likely occurred before the financial statement date
B)likely occurred after the financial statement date
C)are unlikely to require adjustment to the financial statements
D)should be reported to the Securities and Exchange Commission (SEC)

Question

Quizplus · Accepted Answer

Type II subsequent events are events that occur after the financial statement date but before the issuance of the financial statements. These events do not require adjustment to the financial statements but may require disclosure in the footnotes to the financial statements. They are not required to be reported to the SEC.

Type II Subsequent Events Are Those Events That _______