On the 15th July 2023 an electrical fault occurred in the factory and caused a major fire that has resulted in the factory not being able to be used until 1st August 2023. The contents in the factory are estimated to be worth around $50,000. The company was not insured when the electrical fault occurred. How will the company need to disclose this information to their stakeholders? Write down the relevant accounts in the financial statements As an adjustment to the profit and loss account As an adjustment to their accounts As a non-adjusting event to their accounts.

Answer rating: 100% (QA)

The company will need to disclose this information to their stakeholders in several ways 1 As an adj... View the full answer