Subsequent Events can be classified as adjusting events and non-adjusting events. For the list of events below indicate whether the event is adjusting or non-adjusting? i. Insolvency of a receivable after year end ii. Destruction of significant asset after year end iii. Sale of inventories after year end… evidence of Net Realisable Value iv. Issue of shares/debt after year end v. Discovery of errors/fraud revealing Financial Statement incorrect after year end vi. Take-over of another business after year end vii. Purchases/sales of significant non-current assets after year end viii. Agreement of tax liability after year end
Subsequent Events can be classified as adjusting events and non-adjusting events. For the list of events below indicate whether the event is adjusting or non-adjusting? i. Insolvency of a receivable after year end ii. Destruction of significant asset after year end iii. Sale of inventories after year end… evidence of Net Realisable Value iv. Issue of shares/debt after year end v. Discovery of errors/fraud revealing Financial Statement incorrect after year end vi. Take-over of another business after year end vii. Purchases/sales of significant non-current assets after year end viii. Agreement of tax liability after year end
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Subsequent Events can be classified as adjusting events and non-adjusting events. For the list of events
below indicate whether the event is adjusting or non-adjusting?
i. Insolvency of a receivable after year end
ii. Destruction of significant asset after year end
iii. Sale of inventories after year end… evidence of Net Realisable Value
iv. Issue of shares/debt after year end
v. Discovery of errors/fraud revealing Financial Statement incorrect after year end
vi. Take-over of another business after year end
vii. Purchases/sales of significant non-current assets after year end
viii. Agreement of tax liability after year end
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