If an Adjusting Event That Occurs After Reporting Date Is

question 45

Multiple Choice

If an adjusting event that occurs after reporting date is considered to be immaterial IAS 10 requires that the entity:

• A)must disclose the nature of the event and a statement that an estimate of the financial effects cannot be made.
• B)must recognise the event at balance date.
• C)need not recognise nor disclose the event.
• D)must recognise the event at balance date and need not recognise nor disclose the event.

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Definitions:

Americans

Refers to the citizens or natives of the United States of America, encompassing a wide range of cultural, ethnic, and racial groups.

1970

A year marked by significant global and national events, including environmental activism leading to the first celebration of Earth Day.

Jean-Jacques Servan Schreiber

A French journalist and politician known for his reformist views and the founding of the weekly magazine L'Express.

Economic Satellite

A country or region economically dominated or heavily influenced by another, stronger country, often relying on it for financial support or trade.