The following are non-adjusting events, except A. Declaration of dividends after the reporting date does not indicate existence of liability to pay dividends at the reporting date and shall not therefore trigger the recognition of liability in financial statements B. Destruction of assets of the entity by floods occurring after the reporting period does not indicate that the assets of the entity were impaired at the end of reporting period. C. Management's plan to discontinue or significantly curtail its activities in major geographic segments. D. Detection of fraud or errors after the reporting period may indicate that the financial statements are misstated
The following are non-adjusting events, except A. Declaration of dividends after the reporting date does not indicate existence of liability to pay dividends at the reporting date and shall not therefore trigger the recognition of liability in financial statements B. Destruction of assets of the entity by floods occurring after the reporting period does not indicate that the assets of the entity were impaired at the end of reporting period. C. Management's plan to discontinue or significantly curtail its activities in major geographic segments. D. Detection of fraud or errors after the reporting period may indicate that the financial statements are misstated
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following are non-adjusting events, except
A. Declaration of dividends after the reporting date does not indicate existence of liability to pay dividends at the reporting date and shall not therefore trigger the recognition of liability in financial statements
B. Destruction of assets of the entity by floods occurring after the reporting period does not indicate that the assets of the entity were impaired at the end of reporting period.
C. Management's plan to discontinue or significantly curtail its activities in major geographic segments.
D. Detection of fraud or errors after the reporting period may indicate that the financial statements are misstated.
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