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    Question

    Which event would be treated as an adjusting event after

    reporting period under Ind AS 10?
    A Change in tax law enacted after reporting date (non-adjusting unless it provides evidence of conditions existing at reporting date) Correct Answer Incorrect Answer
    B Receipt of information after reporting date about conditions that existed at reporting date (e.g., settlement of litigation) — adjusting Correct Answer Incorrect Answer
    C Declaration of dividends after reporting date — non-adjusting (but disclose) Correct Answer Incorrect Answer
    D Major business combination after reporting date — non-adjusting Correct Answer Incorrect Answer
    E All of C and D only Correct Answer Incorrect Answer

    Solution

    Adjusting events provide evidence of conditions existing at reporting date and require adjustment.

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