Answer
There are two major types of subsequent events.
1. Adjusting Events: Events after the reporting period that provide evidence of conditions that existed after the reporting event.
2. Non-Adjusting Events: Those are events after the reporting period indicative of conditions that arose after the reporting period (i.e. such conditions did not exist at the reporting period).
(a) Adjust
(b) Disclosure
(c)Disclosure
(d) Disclosure
(e) Neither adjustment nor disclosure is required
(f) Neither adjustment nor disclosure is required
(g) Adjust
(h) Neither adjustment nor disclosure is required
Work Step by Step
No Steps involved
