AASB 102 Requires That the Specific Identification Method of Assigning

question 38

Multiple Choice

AASB 102 requires that the specific identification method of assigning cost to items of inventory be applieD.

• A) Wherever possible in order to achieve the most accurate cost figure.
• B) To items of inventory that are ordinarily interchangeable or identical and have significant individual dollar value.
• C) Wherever items are separately identifiable and of significant individual dollar value.
• D) To items of inventory that are not ordinarily interchangeable or are produced and segregated for specific projects.
• E) None of the given answers.

Analyze different business strategies through economic differences reflected in asset utilization and profitability.

Apply knowledge of solvency, liquidity, and credit risk in financial analysis.

Understand the use of financial statements, especially the statement of cash flows, in assessing a company's credit risk and financial health.

Understand the conceptual differences between absorption costing and variable costing.

---

Definitions:

Narcissism

A personality trait characterized by an inflated sense of self-importance, a need for excessive attention and admiration, and a lack of empathy for others.

Self-Monitoring

An individual's ability to regulate behavior to accommodate social situations, which includes adjusting one’s performance to create the desired impression.

Implicit Self-Esteem

An unconscious, automatic aspect of self-esteem which influences reactions and perceptions without conscious awareness.

Explicit Self-Esteem

Self-esteem you are aware of having.