$5$b$.$ Read the following EVENT DESCRIPTION $($for a client with a $12/31/2024$ year$-$end, and audit report date of $\frac{2}{21}\frac{?}{2025})$:

EVENT DESCRIPTION: Settlement of litigation on February $1.2025,$ in excess of the recorded liability on $12/31/2024.$

IS THIS EVENT A SUBSEQUENT EVENT?

$$ NO

$$ YES