Specific Identification Can Be Used for Inventory Valuation Under $\begin{array} { l l l } & \underline{ \text {GAAP }} & \underline{ \text { IFRS }} \\\end{array}$

question 146

Short Answer

Specific Identification can be used for inventory valuation under $\begin{array} { l l l } & \underline{ \text {GAAP }} & \underline{ \text { IFRS }} \\\end{array}$
A) $\begin{array} { l l l } &\text { Yes } & &\text { No } \\\end{array}$
B) $\begin{array} { l l l } &\text { Yes } && \text { Yes } \\\end{array}$
C) $\begin{array} { l l l }& \text { No } && \text {No } \\\end{array}$
D) $\begin{array} { l l l } &\text { No } && \text {Yes }\end{array}$

• A)\(\begin{array} { l l l } &\text { Yes } & &\text { No } \\\end{array}\)
• B)\(\begin{array} { l l l } &\text { Yes } && \text { Yes } \\\end{array}\)
• C)\(\begin{array} { l l l }& \text { No } && \text {No } \\\end{array}\)
• D)\(\begin{array} { l l l } &\text { No } && \text {Yes }
• \end{array}\)

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Definitions:

Biodiversity

The variety of life in the world or in a particular habitat or ecosystem.

Ecosystem Approach

A strategy for the integrated management of land, water, and living resources that promotes conservation and sustainable use in an equitable way.

Non-native Species

Species introduced into new areas where they are not naturally found, often causing harm to the local ecosystem.

Bioinformatics

The use of computer technology to collect, store, analyze, and disseminate biological data, including DNA and protein sequences, to support scientific research.