PAS 10

PAS 10 prescribes the accounting for, and disclosures of, events before the reporting period, including disclosures regarding the date when financial statements were authorized for issue

• False

• True

• So True

• Very True

______________ are "those events, favorable, and unfavorable, that occur between the end of the reporting period and the date when the financial statements are authorized for issue."

• Events before the reporting period

• Events during the reporting period

• Events after the reporting period

• Events in the reporting period

If Entity A's reporting period ends on Dec. 31, 20x2 and its financial statements are authorized for issue on Jul. 31, 20x3. Thus, events after the reporting period are those events that occur within ______________

• a.) January 1, 20x3 to July 31, 20x4

• b.) January 1, 20x3 to March 31, 20x3

• c.) January 1, 20x3 to May 31, 20x3

• d.) January 1, 20x3 to July 31, 20x3

The date of authorization of the financial statements is the date when management authorizes the financial statements for issue regardless of whether such authorization is final or subject to further approval

• True

• False

_________ are events that provide evidence of conditions that existed at the end of the reporting period.

• Not adjustable events

• Non-adjusting events

• Adjusting events

• None of the above

Non-adjusting events after the reporting period are events that are indicative of conditions that arose after the reporting period.

• True

• False

Non-adjusting events do not require adjustments of amounts in the financial statements. However, they are disclosed if they are material.

• True

• False

Dividends declared after the reporting period are recognized as liability at the end of the reporting period because present obligation always exist at the end of the reporting period.

• True

• False

It requires adjustment of amounts in the financial statements

• Adjusting Events

• Non-Adjusting Events

• Not adjustable Events

• None of the above

PAS 10 prohibits the preparation of financial statements on a going concern basis if management determines after the reporting period either that it intends to liquidate the entity or to cease trading, or that it has no realistic alternative but to do so

• True

• False