Which of the Following Is Not an ASB Assertion About

question 9

Multiple Choice

Which of the following is not an ASB assertion about inventory related to presentation and disclosure?

• A)Inventory is properly classified as a current asset on the balance sheet.
• B)Inventory is properly stated at cost on the balance sheet.
• C)Major inventory categories and their valuation bases are adequately disclosed in notes.
• D)All of these are ASB presentation and disclosure assertions about inventory.