Circumstances Where an "Emphasis of a Matter" Paragraph May Be

question 15

Multiple Choice

Circumstances where an "emphasis of a matter" paragraph may be necessary include

• A)an uncertainty relating to the future outcome of exceptional litigation or regulatory action
• B)early application (where permitted)of a new accounting standard that has a pervasive effect on the financial statements after its effective date
• C)a major catastrophe that has had,or continues to have,a significant effect on the entity's financial position
• D)insignificant transactions with related parties
• E)unusually frequent subsequent events
• F)both A and B
• G)both A and C
• H)both D and E

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