With reference to SSAP 17 (Accounting for post-balance sheet events) and FRS 12 (Provisions, contingent liabilities and contingent assets):

(a) define the following terms:

(i) post-balance sheet events;

(ii) adjusting events;

(iii) non-adjusting events; and

(iv) contingent asset/liability;

(b) give FOUR examples of adjusting events, and FOUR examples of non-adjusting events; and

(c) state how

(i) a material contingent liability, and

(ii) material contingent assets should be accounted for in financial statements,