Which of the Following Is True Regarding the Differences Between

question 75

Multiple Choice

Which of the following is true regarding the differences between ASPE and IFRS regarding inventory valuation?

• A)Both allow a reversal of write-down and writing up of inventory to its original cost after a write down because of LC&NRV rule.
• B)Neither of them allows a reversal of write-down and writing up of inventory to its original cost after a write down because of LC&NRV rule.
• C)Only ASPE allows a reversal of write-down and writing up of inventory to its original cost after a write down because of LC&NRV rule.
• D)Only IFRS allows a reversal of write-down and writing up of inventory to its original cost after a write down because of LC&NRV rule.

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Definitions:

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution.

P-Value

The likelihood of encountering test outcomes that are as significant or more significant than the actual observed outcomes, assuming the null hypothesis is true.

Contingency-Table

A table often used in statistics to display the frequency distribution of variables, helping in analyzing the relationship between categorical variables.

Degrees of Freedom

The number of independent values or quantities which can vary in the analysis without violating any constraints.