The Class of Assets That Is to Be Valued at Lower

question 49

Multiple Choice

The class of assets that is to be valued at lower than cost or net realisable value is:

• A) non-current assets.
• B) debtors.
• C) self-generating and regenerating assets.
• D) inventories.

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Definitions:

Utility

A measure of satisfaction or happiness that consumers derive from consuming goods and services.

Train Tickets

Tickets that grant the holder the right to travel on a train service, typically specifying the journey details.

Diminishing Marginal Utility

Diminishing Marginal Utility is an economic concept stating that as a person consumes more of a good or service, the satisfaction (utility) gained from consuming each additional unit decreases.

Total Utility

The total satisfaction or benefit that a person receives from consuming a given total quantity of a good or service.