Reversal of a Previous Inventory Write Down Is Not Advocated

question 31

True/False

Reversal of a previous inventory write down is not advocated in AASB 102.

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Definitions:

Intangible Activities

Tasks or operations that do not result in a physical product but provide value or service to customers.

Market Research

Market research is the process of gathering, analyzing, and interpreting information about a market, including info about the target market, competitors, and customers, to inform business decisions.

Durable Good

A type of good that does not quickly wear out and is therefore used over a longer period, such as appliances, vehicles, and furniture.

Cab Ride

A trip or service provided by a taxi or cab, often charged based on distance and time.