Inventory That Originally Cost $10,000 Was Written Down to Its

question 134

Multiple Choice

Inventory that originally cost $10,000 was written down to its net realizable value of $8,500 at the end of 2012. At the end of 2013, the net realizable value is determined to be $10,500. At what amount should the inventory be reported on the December 31, 2013 statement of financial position?

• A) $8,500.
• B) $10,000.
• C) $9,500.
• D) $10,500.

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Definitions:

Communication Competency

The ability to effectively convey and receive messages in interpersonal and group settings, encompassing both verbal and non-verbal skills.

Business Objectives

The specific goals or aims that an organization seeks to achieve, guiding its operational and strategic direction.

Observable

Capable of being seen or noticed through direct observation.

Motivating Employees

The process of encouraging and inspiring workers to perform their tasks efficiently and effectively.