PAS 10 HELP ME PLEASE

1. ABC Co. completes the draft of its December 31, 20x1 year-end financial statements on January 31, 20x2. On February 5, 20x2, the board of directors reviews the financial statements and authorizes them for issue. The entity announces its profit and selected other financial information on February 23, 20x2. The financial statements are made available to shareholders and others on March 1, 20x2. The shareholders approve the financial statements at their annual meeting on March 18, 20x2 and the approved financial statements are then filed with a regulatory body on April 1, 20x2. Events after the reporting period are those occurring a from December 31, 20x1 to February 5, 20x2. b. from January 1, 20x2 to February 5, 20x2. c. from January 1, 20x2 to February 23, 20x2. d. from January 1, 20x2 to March 18, 20x2. 2. These are events that are indicative of conditions that arose after the reporting period. a. Events after the reporting period b. Non-adjusting events c. Adjusting events d. All of these 3. Entity A recognized a provision for a pending litigation amounting to P50,000 on December 31, 20x 1 (end of current reporting period). This amount is reflected in Entity A's reported profit of P600,000 for the year 20x1. Shortly after December 31, 20x1, but before the financial statements were authorized for issue, the litigation is settled for P40,000. The correct profit in 20xl is a. 600,000. b. 610,000 c. 640,000. d. 590,000 4. Which of the following is an example of an adjusting event? a Major business combination after the reporting period. b. A building is totally razed by fire after the reporting period. c. Sale of inventories after the reporting period that gives evidence to their net realizable value at the end of reporting period. d. Issuance of shares of stocks after the reporting period. 5. Which of the following is an example of a non-adjusting event? a Bankruptcy of a customer after the reporting period that indicates that the carrying amount of a trade receivable at the end of reporting period is impaired. b. Evidence indicating that an asset is impaired as at the end of the reporting period. c. Legal proceedings after the reporting period for an incident that occurred before the end of the reporting period. d. Significant decline in foreign exchange rates after the reporting period resulting to massive losses on recognized foreign currency denominated financial instruments