MC Question 18

Which TWO of the following events which occur after the reporting date of a company but before the financial statements are authorised for issue are classified as ADJUSTING events in accordance with IAS 10 Events after the Reporting Period ?


A change in tax rate announced after the reporting date, but affecting the current tax liability


The discovery of a fraud which had occurred during the year


The determination of the sale proceeds of an item of plant sold before the year end


The destruction of a factory by fire

A     (i) and (ii)
B     (i) and (iii)
C     (ii) and (iii)
D     (iii) and (iv)

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