Which of the following material events after the reporting date and before the financial statements are approved

are adjusting events?

(1) A valuation of property providing evidence of impairment in value at the reporting date.

(2) Sale of inventory held at the reporting date for less than cost.

(3) Discovery of fraud or error affecting the financial statements.

(4) The insolvency of a customer with a debt owing at the reporting date which is still outstanding.

A 1, 2 and 4 only

B 1, 2, 3 and 4

C 1 and 4 only

D 2 and 3 only