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Pay attention to the events below and answer the questions based on those events.
a. Feb 28th, BOD authorizes the 2 for 1 stock split.
b. February 10, a fire destroyed the company's warehouse.
c. Jan 31, BOD authorizes the acquisition of a part of a subsidiary.
a. Feb 25th, the lawsuit decided to fight the company for the accident that occurred on Oct 10. Damage was estimated to be 3x higher than reality on Dec 31.
d. Mar 31, court ruled that minority groups are the legal owners of the land where the operational division is located.
e. March 7, foreign governments take over subsidiary companies following the fall of government power.
Questions:
1. Identify the event whether it includes the following options:
(1) type 1 subsequent event for subsequent event periods,
(2) type 2 subsequent events during subsequent event periods,
(3) type 1 subsequent event that occurs after fieldwork but before the publication of the report,
(4) type 2 subsequent events that occur after fieldwork but before the issuance of the report,
(5) post-audit discovery.
2. Explain the audit responsibilities for each incident!
3. Mention the sources needed to identify each incident!
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