If an Event or Transaction That Occurs After Reporting Date

question 40

Multiple Choice

If an event or transaction that occurs after reporting date does not relate to conditions that existed at reporting date then:

• A) No action should be taken to report the event or transaction in the financial reports.
• B) The statement of financial position should not be adjusted but effects on the statement of comprehensive income should be reflected in that statement.
• C) The event or transaction should be disclosed in the notes to the accounts as a post-reporting date event and the financial statements adjusted appropriately.
• D) The event or transaction should be disclosed in the notes to the accounts if it is material.

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Definitions:

H Statistic

A measure of statistical significance in the Kruskal-Wallis H test, used to determine if there are differences between two or more groups of an independent variable on a continuous or ordinal dependent variable.

Wilcoxon Signed Rank Test

A non-parametric statistical test used to compare two related samples or repeated measurements on a single sample to assess whether their population mean ranks differ.

Aluminum Concentrations

The amount or level of aluminum present in a given substance, mixture, or environment.

Null Hypothesis

A hypothesis that assumes no significant difference or effect, serving as a default assumption to be tested against experimental data.