Which of the following statements is true concerning non-adjusting events?
A) The financial statements should be adjusted.
B) The financial statements should not be adjusted.
C) Non-adjusting events do not require financial statement disclosure.
D) Non-adjusting events impact only future events.

Question

Quizplus · Accepted Answer

Non-adjusting events are those that occur after the reporting period but before the financial statements are authorized for issue. They do not relate to the conditions that existed at the end of the reporting period, so the financial statements should not be adjusted for these events.

Which of the Following Statements Is True Concerning Non-Adjusting Events