The Following Are Material Events That Occurred for Virgil Plc

question 1

Multiple Choice

The following are material events that occurred for Virgil Plc between the reporting date and the date when the financial report is authorised for issue. $$\begin{array} { | l | l | } \hline \text { II } & \text { Bankruptcy of a customer that occurs after the reporting date } \\\hline \text { III } & \begin{array} { l } \text { Determination after the reporting date of the costs assets purchased before the } \\\text { reporting date }\end{array} \\\hline \text { IV } & \begin{array} { l } \text { Decline in market value of investments after the reporting date of investments } \\\text { purchased before the reporting date }\end{array} \\\hline \mathrm { V } & \text { Dividends declared after the reporting date } \\\hline \mathrm { VI } & \text { A lawsuit filed by a customer after the reporting date } \\\hline\end{array}$$ Which of the following options identify all the non-adjusting events for Virgil Plc,in accordance with IAS 10 Events After the Reporting Period?

• A)I, II and III
• B)II, III and IV
• C)I, II and VI
• D)III, IV and V

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Definitions:

Convection

The transfer of heat through the movement of fluids or gases, often seen in weather patterns and cooking.

Tepid Sponge Baths

A method of bathing using lukewarm water to gently cleanse the body, often used to reduce fever or gently wash patients.

Evaporation

The process by which liquid turns into vapor.

Viscosity

A measure of a fluid's resistance to flow, with higher viscosities indicating thicker, less pourable fluids.