According to IFRS, All of the Following Costs Should Be

question 20

Multiple Choice

According to IFRS, all of the following costs should be included in the cost of inventory except:

• A)cost of materials for a special order.
• B)direct labour involved in manufacturing the product.
• C)supervisors' salaries in the plant.
• D)storage costs.

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Definitions:

Extinction

The process in which a conditioned response gradually diminishes and eventually disappears as the conditioned stimulus is repeatedly presented without the unconditioned stimulus.

Spontaneous Recovery

The reemergence of a previously extinguished conditioned response after a pause.

Classical Conditioning

A teaching process in which two stimuli are repetitively paired; a response first initiated by the second stimulus eventually becomes initiated by the first stimulus alone.

Tone

In linguistics, the quality of a sound, especially in speech, that expresses a particular meaning or emotion; in music, the specific quality or pitch of a sound.