Inventories Are Defined by IFRS as Items Which Are

question 19

Multiple Choice

Inventories are defined by IFRS as items which are

• A)held-for-sale in the ordinary course of business.
• B)in the process of production for sale in the ordinary course of business.
• C)in the form of materials or supplies to be consumed in the production process or in the providing of services.
• D)All of these answers are correct.

---

Definitions:

Certain Amount

A specific quantity or measure of something.

Prismatic Multicolored Background

A visual design or effect featuring a spectrum of colors resembling those seen through a prism, often incorporating several hues and gradients.

Chemical Reactive Paper

Specially treated paper used to indicate chemical reactions through color changes or other visible transformations.

Colored Pantograph

A mechanical device used in the process of copying, scaling, and reproducing maps or other drawings, often in different colors for clarity or emphasis.