Where an Event Occurring After the End of the Reporting

question 27

Multiple Choice

Where an event occurring after the end of the reporting period provides new information that does not relate to conditions existing at year end and, if its non-disclosure has the potential to adversely affect decisions made by users of the financial statements:

• A)it is required to be disclosed in the notes to the accounts.
• B)it is an adjusting event.
• C)it is a non-adjusting event.
• D)a and C

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Definitions:

Interactive Exchanges

Dynamic communications or transactions between individuals or entities that involve mutual or reciprocal actions.

Proactive

Taking initiative by acting in advance of future situations rather than just reacting to them.

Evaluating Behavior

The process of assessing the appropriateness, effectiveness, and outcomes of behaviors in specific contexts, often to inform interventions or strategies.

Reactive

Responding to stimuli or events after they have occurred, as opposed to taking initiative or acting in anticipation.