Which of the Following Is Not Recognised as an Expense

question 8

Multiple Choice

Which of the following is not recognised as an expense in accordance with AASB 102?

• A) Cost of goods sold
• B) Write-downs of inventories to net realisable value
• C) Reversal of write downs to net realisable value
• D) Inventory items used by an entity as components in self-constructed property, plant or equipment.

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Definitions:

Anagrams

Words or phrases formed by rearranging the letters of another, such as 'listen' and 'silent'.

Prototypes

Original forms or models on which something is patterned or based, often used in cognitive psychology to describe how people categorize objects and concepts.

Algorithms

Step-by-step procedures or formulas for solving problems, often used in mathematics and computer science.

Overextensions

A linguistic phenomenon in early language development whereby children use words in an overly general manner.