According to AASB 102 Material Information Relating to Which of the Following

question 48

Multiple Choice

According to AASB 102 material information relating to which of the following must be disclosed?

• A) The carrying amount of closing inventories included in equity accounted profits.
• B) The carrying amount of inventories classified as non-current assets.
• C) The aggregate amount of inventory recorded at recoverable amount.
• D) The carrying amount of inventories revalued upwards as at the end of the period.
• E) None of the given answers.

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Definitions:

Profit-Maximizing

A strategy or approach focused on adjusting production and operational variables to achieve the highest possible profit margins.

Output Quantity

The total amount of goods or services produced by a company or country within a specific period.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for product differentiation.

ATC

Average Total Cost, which is the total cost divided by the quantity of output produced.