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Northridge Hospital is investor - owned , for-profit hospital . The hospital maintains its financial records on a calendar year . In February , after the end of the latest fiscal year, but prior to the date of the release of its financial statements for the year , Northridge suffers a fire that causes the closure of one of the patient wings . Repairs will take a minimum of 90 days to complete to allow the wing to be reopened . Which accounting principle requires that this event be disclosed in the hospital's financial statements ?
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Northridge Hospital is investor - owned , for-profit hospital . The hospital maintains its financial...
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