If a Material Amount of Inventory Has Been Ordered Through

question 94

Multiple Choice

If a material amount of inventory has been ordered through a formal purchase contract at the balance sheet date for future delivery at firm prices,

• A) this fact must be disclosed.
• B) disclosure is required only if prices have declined since the date of the order.
• C) disclosure is required only if prices have since risen substantially.
• D) an appropriation of retained earnings is necessary.

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Definitions:

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A disorder in which anxiety is a central symptom.

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6 Percent

A quantitative value or measurement, often referred to in statistical, financial, or performance contexts, indicating a portion out of a hundred.