Under International Financial Reporting Standards (IFRS), Net Realizable Value Is

question 13

Multiple Choice

Under International Financial Reporting Standards (IFRS) , net realizable value is the general rule for valuing which of the following types of inventory?

• A) Commodities held by broker-traders.
• B) Computer components held for sale to manufacturers.
• C) Inventories priced on an item by-item basis, but not those priced on a total-inventory basis.
• D) All of the choices are held at NRV under IFRS.