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MC Question 3

Each of the following events occurred after the reporting date of 31 March 2015, but before the financial statements
were authorised for issue.

Which would be treated as a NON-adjusting event under IAS 10 Events After the Reporting Period?

A

A public announcement in April 2015 of a formal plan to discontinue an operation which had been approved by
the board in February 2015

B

The settlement of an insurance claim for a loss sustained in December 2014

C

Evidence that $20,000 of goods which were listed as part of the inventory in the statement of financial position
as at 31 March 2015 had been stolen

D

A sale of goods in April 2015 which had been held in inventory at 31 March 2015. The sale was made at a
price below its carrying amount at 31 March 2015

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