Examples of Costs Listed in AASB 116 That Would Not

question 25

Multiple Choice

Examples of costs listed in AASB 116 that would not be considered to represent directly attributable costs include:

• A)costs of introducing a new product or service
• B)administration and other general overhead costs
• C)costs of relocating or reorganising part or all of an entity's operations
• D)all of the above

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Definitions:

Cash Crop

A type of crop grown primarily for sale to others rather than for personal or local consumption, often for profit.

Homestead Act

1862 law that authorized Congress to grant 160 acres of public land to a western settler, who had to live on the land for five years to establish title.

Jacob Riis

A Danish-American social reformer, journalist, and photographer known for highlighting the dire conditions of the urban poor.

Industrial Revolution

A period of major industrialization from the late 18th to early 19th centuries that transformed mainly agrarian, rural societies in Europe and America into industrialized, urban ones.