AASB 102 Require That Inventories Be Reinstated to the Extent

question 54

Multiple Choice

AASB 102 require that inventories be reinstated to the extent that the new carrying amount does not:

• A) exceed the net realisable value in the previous period.
• B) exceed the lower of the original cost.
• C) exceed the net realisable value in the current period.
• D) exceed the lower of the original cost or the net realisable value in the current period.

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Definitions:

Exocrine

Glands that secrete their products through ducts either out of the body or into the digestive system, unlike endocrine glands, which secrete hormones directly into the blood.

Possesses Ducts

Refers to glands or organs that have tube-like structures to convey their secretions to other locations.

Endocrine

Relating to glands that secrete hormones directly into the bloodstream to regulate the body's processes.

Holocrine

A type of glandular secretion where the entire cell disintegrates to release its substances, such as in sebaceous glands.