Question
The employees of Kuramba Ltd went on strike for an indefinite period commencing on 5 August 2035. The strike was expected to cause severe financial
The employees of Kuramba Ltd went on strike for an indefinite period commencing on 5 August 2035. The strike was expected to cause severe financial conditions for the company. The financial statements for the year ended 30 June 2035 were expected to be finalised by 7 August 2035.
In accordance with AASB 110 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.
to adjust the financial statements, as it is an adjusting event
c.
to adjust the financial statements, as it is a non-adjusting event
d.
disclosure as a note to the financial statements, as it is an adjusting event
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