note : select one or more answer

Whenever subsequent events are used to evaluate the amounts included in the statements, care must be taken to distinguish between conditions that existed at the balance sheet date and those that come into being after the end of the year. The subsequent information should be incorporated directly into the statements if the conditions causing the change in valuation: Select one or more: . took place before year-end. b. occurred both before and after year-end. c. did not take place until after year-end