4. A company should continue to classify its long-term liabili one yea rent even when they are due to be settled within ne yea based on the financial status of the company: refinancing is considered inevitable Which of the following non-adjusting events after the reporting period will require disclosure? ne “vents. after the reps a. __ Retirement of company president, b, Settlement of litigation when the event that gave rise to the litigation occurred prior to reporting date c. Employee strikes d. Issue of a large amount of share capital Which of the following information should be disclosed in the summary of significant accounting policies? a. Criteria for determining which investments are treated as cash equivalents Guarantee of indebtedness of others Business combination after the end of the reporting period d. Refinancing of debt subsequent to the end of the reporting period 9: ‘The notes to the financial statements should not be used to a. present disclosures required by generally accepted accounting principles. b. describe the accounting policies adopted by the enterprise. ©. correct an improper financial statement presentation. d. describe the basis for resolving uncertainties in the financial statements Which of the following is not a negative element under the Property, Plant and Equipment classification? Accumulated depletion of mineral-bearing property Accumulated depreciation of paved parking lot Accumulated depreciation of buildings Reserve for plant expansion 185