According to IAS 2 Material Information Relating to Which of the Following

question 37

Multiple Choice

According to IAS 2 material information relating to which of the following must be disclosed?

• A)the carrying amount of closing inventories included in equity accounted profits
• B)the carrying amount of inventories classified as non-current assets
• C)the aggregate amount of inventory recorded at recoverable amount
• D)the carrying amount of inventories revalued upwards as at the end of the period

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Definitions:

Interest-Bearing Note

A promissory note that comes with the agreement to pay the holder a fixed amount of interest over a specified period until the principal amount is repaid.

Debenture Bonds

Unsecured bonds that rely on the creditworthiness and reputation of the issuer rather than collateral.

Secured Bonds

Bonds that are backed by specific assets of the issuer as collateral, giving bondholders a claim to those assets if the issuer defaults.