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.

Grasp the ethical considerations and decision-making imperatives for 21st-century managers.

Appreciate the impact of dynamic and changing environments on organisational strategy and operations.

Understand the integration of different management theories into contemporary management practices like Theory Z.

Recognize the features and importance of learning organizations in promoting continuous improvement.

---

Definitions:

Distributors

Intermediaries in the supply chain who facilitate the movement of products from manufacturers to the marketplace.

Electronic Exchanges

Digital platforms that facilitate the trading of financial instruments, commodities, or other items between parties.

Third Party

An entity involved in a transaction or agreement that is separate from the two main parties, often providing additional services or products.

Direct Materials

Raw materials that are directly incorporated into a final product during the manufacturing process.