Which of the following events occurring after the balance sheet date are classified as adjusting, if material?
1    The sale of inventories valued at cost at the balance sheet date for a figure in excess of cost.
2    A valuation of land and buildings providing evidence of an impairment in value at the year end.
3    The issue of shares and loan notes.
4    The insolvency of a customer with a balance outstanding at the year end.
A    1 and 3
B    2 and 4
C    2 and 3
D    1 and 4

B

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