Which of the Following Is Specifically Excluded by AASB 102

question 29

Multiple Choice

Which of the following is specifically excluded by AASB 102 from the cost of inventories measurement?

• A) Trade discounts received
• B) Freight (where the terms of sale are FOB destination)
• C) Costs of designing inventory for an individual customer.
• D) Costs of converting supplies into specific products for sale.

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Definitions:

Cognitive Theories

Theoretical frameworks that emphasize the role of mental processes such as perception, memory, and thought in the development of personality, behavior, and learning.

Conscious Thoughts

Mentally aware or deliberate thoughts that one can observe, know, and report.

Piagetian Stage

One of the developmental phases in Jean Piaget's theory of cognitive development, including sensorimotor, preoperational, concrete operational, and formal operational stages.

Sensorimotor Stage

The first stage in Piaget's theory of cognitive development, occurring from birth to approximately 2 years of age, during which infants learn about the world through their senses and actions.