According to AASB 102 Inventories Include Assets

question 22

Multiple Choice

According to AASB 102 inventories include assets:

• A) Such as service contracts arising under construction contracts.
• B) Such as assets held long-term for use in the production process.
• C) Such as financial instruments.
• D) Held in the process of production, preparation or conversion for sale.
• E) None of the given answers.

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Definitions:

Bureaucracies

Bureaucracies describe organizational structures that are characterized by a hierarchy of authority, a clear division of labor, explicit rules, and impersonality in managerial decisions.

Sociologists

Professionals who study social behavior, patterns of social relationships, social interaction, and the culture that surrounds everyday life in different social contexts.

Criticisms

Evaluations or judgments expressed about something, often focusing on perceived faults or mistakes.

Social Category

A grouping of people who share a common characteristic or attribute but do not necessarily interact or identify with one another.