Which of the Following Material After Balance Sheet Date Events

question 30

Multiple Choice

Which of the following material after balance sheet date events is considered an adjusting event?

• A) Settlement after reporting date of a court case that confirms that the entity has a present obligation on reporting date.
• B) An announcement of a plan to discontinue a business operation.
• C) Decline in market value of investments between reporting date and the date when the financial report is authorised for issue.
• D) All of the given answers.
• E) Settlement after reporting date of a court case that confirms that the entity has a present obligation on reporting date, and decline in market value of investments between reporting date and the date when the financial report is authorised for issue.

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Definitions:

British Emigrants

Individuals originating from the United Kingdom who relocate to live in another country.

Protests and Petitions

Methods of nonviolent action used by individuals or groups to express opposition to or support for a cause, typically involving public demonstrations or formal requests to authorities.

Parliament

The supreme legislative body in a country, especially in those following the British system, composed of two houses: the upper house (Senate or House of Lords) and the lower house (House of Commons or House of Representatives).