The Write Down of Inventories to Net Realisable Value in a Prior

question 17

Multiple Choice

The write down of inventories to net realisable value in a prior period:

• A) can be reversed in a later period with no upper limit from a previous write down.
• B) cannot be reversed in a later period..
• C) can be reversed in a later period but only to the upper limit of the original write down.
• D) can be reversed in a later period so long as the value is recovered within 2 years of the original write down.

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