What are the major types of subsequent events? Indicate how each of the following “subsequent events” would be reported.(a) Collection of a note written off in a prior period.(b) Issuance of a large preferred stock offering.(c) Acquisition of a company in a different industry.(d) Destruction of a major plant in a flood.(e) Death of the company’s chief executive officer (CEO).(f) Additional wage costs associated with settlement of a four-week strike.(g) Settlement of a federal income tax case at considerably more tax than anticipated at year-end.(h) Change in the product mix from consumer goods to industrial goods.

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Fraud

Fraud in accounting is the planned manipulation of financial documents to make a false appearance of corporate financial health. Moreover, it includes an employee, accountant, or the company itself misleading investors and shareholders.