When Eddie Okulicz released the audit report of C Corp. he did not anticipate that there would follow an announcement two days later that several days after year-end his client's foreign subsidiary had been nationalized by Libya for non-compliance to environmental laws of the country. What type of subsequent event was this?
A) Type 1
B) Type 2
C) Type 1 and 2
D) this was not a subsequent event
Correct Answer:
Verified
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Q7: A type 1 subsequent event provides evidence
Q8: Subsequent events procedures are normally performed through
Q9: The auditor's responsibility for the financial statements
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Q14: A limitation on the scope of the
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Q18: The client's compliance with contractual requirements of
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