Under What Circumstance Will Both U

question 33

Multiple Choice

Under what circumstance will both U.S. GAAP and IAS 2 provide a similar result with respect to inventory valuation?

• A) When historical cost is greater than the net realizable value
• B) When replacement cost is lower than historical cost
• C) When replacement cost is greater than the net realizable value
• D) When normal profit margin is less than 15%

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Definitions:

Information Storage

The retention of digital or analog information over time for the purpose of retrieval and use in the future.

Sequences

Ordered sets of elements or events following a specific rule or arrangement.

Hydrogen Bonds

An electrostatically driven, fragile linkage occurs between two molecules when a proton from one molecule attracts an electronegative atom in another.

Guanine

One of the four main nucleobases found in the nucleic acids DNA and RNA, which pairs with cytosine.