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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