Which of the following material after balance sheet date events is not considered an adjusting event?
A) Determination after the reporting date of the cost of assets purchased before the reporting date.
B) Receipt of information after reporting date indicating that an asset was impaired at reporting date.
C) Determination after the reporting date the amount of bonus payment payable to senior executives.
D) Destruction of assets due to flood after the reporting date.
E) Loss due to fire before the reporting date.

Question

Quizplus · Accepted Answer

Destruction of assets due to a flood after the reporting date is a non-adjusting event because it does not provide evidence of conditions that existed at the end of the reporting period.

Which of the Following Material After Balance Sheet Date Events