Which of the Following Material After-Reporting-Date Events Is Not Considered

question 52

Multiple Choice

Which of the following material after-reporting-date events is not considered a non-adjusting event?

• A) a major acquisition of capital assets after the reporting date
• B) destruction of inventory by vandals after the reporting date
• C) changes in tax rates or tax laws enacted or announced after the reporting date
• D) destruction of inventory on consignment by vandals before the reporting date

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Definitions:

Global Empathy

The ability and willingness to understand and share the feelings of people from diverse backgrounds and cultures on a global scale.

Accidentally

Occurring by chance, without intention or plan.

Moral Notion

A concept related to the principles or rules of right conduct or the distinction between right and wrong.

Moral Conviction

A strongly held belief in the rightness or wrongness of actions, which guides moral behavior and judgments.