Exam (Remotely Proctored) : 2:00:00 Time Left:0:54:23 Sukhdeep Kaur: Attempt 1 Question 17 (1 point) Audit field work has concluded, but before the final completion of the audit, your client has advised you that they have entered into a significant sale of assets and a lease back arrangement with a new, unrelated party. Which of the following statements is true? This sale needs to be examined in detail as this may change our assessment of control risk. This sale needs to be examined in detail as this may change the results of the final analytical review of the financial statements. This sale does not need to be examined in detail as this is a subsequent event that does not affect the financial statements of the current year. This sale needs to be examined in detail as this is a subsequent event that may affect the financial statements of the current year. Question 18 (1 point) Saved If the amount of a significant contingent liability cannot be estimated, but the event is likely, the liability should be