Promotion Ltd's Directors Voted Immediately After the Year-End of 30

question 20

Multiple Choice

Promotion Ltd's directors voted immediately after the year-end of 30 June 2010 to double its advertising budget for the coming year and authorised a change in advertising agencies. What is the effect of this event on the
30 June 2010 financial report?

• A) Disclosure by means of supplemental, pro-forma financial information.
• B) Adjustment of the financial report.
• C) Disclosure in a footnote to the financial report.
• D) No disclosure or adjustment necessary.

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Definitions:

Confession Evidence

Testimony or statements admitting to criminal activity, which can be used as evidence in court to support the prosecution’s case against the defendant.

Indicator

A measure or metric used to evaluate or predict the performance, health, or quality of something.

Guilt

A feeling of having done wrong or failed in an obligation, often associated with moral and legal judgment.

Jurors

Members of a jury, who are citizens tasked with determining the outcome of a legal case based on the evidence presented.