MN obtained a license free of charge from the government to dig and operate a gold mine.On the 31 October 20x9 there was a massive earthquake in the area and MN’s mine shaft was badly damaged. It is estimated that the mine will be closed for at least six months and will cost $1 million to repair.How should MN treat the effects of the earthquake in its financial statements for the year ended 31 August 20x9 in accordance with IAS 10 Events after reporting period?
A.
Treat as an adjusting event with a disclosure note
B.
Treat as a non-adjusting event with a disclosure note
C.
Treat as a non-adjusting event without a disclosure note
D.
Treat as an adjusting event without a disclosure note