When Determining the Net Realisable Value of Inventory, Estimates Must

question 24

Multiple Choice

When determining the net realisable value of inventory, estimates must be made of the following:
I Estimated costs of completion (if any)
II Expected replacement cost
III Expected selling price
IV Estimated selling costs

• A) I, II, III and IV;
• B) I, II and III only;
• C) II and IV only;
• D) I, III and IV only.

Differentiate between unilateral, mutual, and common mistakes in contract formation.

Identify and understand the concept of non est factum and its application.

Recognize and explain the effects of fraudulent and innocent misrepresentation on contracts.

Describe the requirements for a contract's formation and the elements that must be present.

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Definitions:

Lamaze Method

A childbirth preparation technique focusing on breathing, relaxation, and education to reduce pain and increase comfort during labor.

Breathing Techniques

Methods or exercises designed to improve breathing efficiency, often used for stress reduction, improved athletic performance, or as part of meditation practices.

Contractions

The tightening and releasing of the muscles of the uterus during childbirth or to indicate the onset of labor.

Anesthetics

Anesthetics are substances used to induce anesthesia, a state of temporary loss of sensation or awareness, typically used during surgical procedures.