Listed below are material events that pertain to the financial statements of the Henry Corporation as of December 31, 20X5. Your field work on this audit ended on January 31, 20X6, and your report was issued February 10, 20X6. Indicate the nature of each event by using the following code letters:
-Additional assessment of a prior year's income tax return on February 8
A)Postaudit discovery of existing facts
B)None of the above
C)None of the above.
D)Sale of a subsidiary on January 20

Question

Quizplus · Accepted Answer

The additional assessment of a prior year's income tax return is a postaudit discovery of existing facts.

Listed Below Are Material Events That Pertain to the Financial