The Specific Identification Method

question 194

Multiple Choice

The specific identification method

• A) cannot be used under GAAP.
• B) cannot be used under IFRS.
• C) must be used under IFRS if the inventory items can be specifically identified.
• D) must be used under IFRS if it would result in the lowest net income.

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Definitions:

Cis-1,2-dimethylcyclopentane

An isomer of dimethylcyclopentane where the two methyl groups are on the same side of the ring structure, leading to specific stereochemical properties.

Trans-1,2-dimethylcyclopentane

An isomer of dimethylcyclopentane characterized by the two methyl groups being on opposite sides of the cyclopentane ring.

(S)-2-hydroxybutanoic Acid

An optically active form of hydroxybutanoic acid, which has a specific spatial configuration designated as S (from the Latin sinister, meaning left).

Fischer Projection

A method to represent the three-dimensional structure of molecules on a two-dimensional plane, emphasizing the configuration of chiral centers.