Inventories Are Covered by Which of the Following Standards

question 16

Multiple Choice

Inventories are covered by which of the following standards?

• A) AASB 138
• B) AASB 6
• C) AASB102
• D) AASB 116

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Definitions:

Standard Deviation

A statistical measurement that reflects the amount of variance or dispersion of a set of values. A low standard deviation means that the values tend to be close to the mean, while a high standard deviation means that the values are spread out over a wider range.

Defined Contribution Plan

A retirement savings plan where an employer or employee contributes a fixed amount or percentage of the employee's salary into their account, and the retirement benefit depends on the account's investment performance.

Risk-free Return

The theoretical return on an investment with no risk of financial loss, typically represented by the return on government securities.

Standard Deviation

A statistical measure that quantifies the amount of variability or dispersion around an average.