A company's workforce went on strike for an indefinite period commencing on 5 August 2017. The strike was expected to cause severe financial conditions for the company. The financial statements for the year ended 30 June 2017 were expected to be finalised by 7 August 2017. In accordance with AASB 110/IAS 10 Events after the Reporting Period, the appropriate treatment regarding this event is:
A) disclosure as a note to the financial statements, as it is a non-adjusting event.
B) disclosure as a note to the financial statements, as it is an adjusting event.
C) to adjust the financial statements, as it is a non-adjusting event.
D) to adjust the financial statements, as it is an adjusting event.
Correct Answer:
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