The Disclosures IAS 10 Requires for a Material Non-Adjusting Event

question 50

Multiple Choice

The disclosures IAS 10 requires for a material non-adjusting event include:

• A)the financial effect of the event or, where it is not possible to estimate the effect reliably, a statement to that effect.
• B)a description of why the event only came to be known of after reporting date.
• C)details of the corporate governance procedures in place to ensure that further information regarding the event is gathered in a timely fashion.
• D)the financial effect of the event or, where it is not possible to estimate the effect reliably, a statement to that effect and a description of why the event only came to be known of after reporting date.

---

Definitions:

Arbitration Boards

Panels established to resolve disputes between parties through the arbitration process rather than through court litigation.

Binding Awards

Decisions made by an arbitrator or judicial body that are legally enforceable and must be adhered to by the parties involved.

Restraint Of Trade

Agreement between firms to fix prices, injure competition, or prevent others from entering a market.

Exclusive Bargaining Representative

A labor union that has the sole authority to negotiate the terms of employment on behalf of all employees in a specific workplace.