AASB 102 Requires Disclosure of the Following:
I $\quad$ Details of Reversals of Prior Year Write-Downs
II

question 12

Multiple Choice

AASB 102 requires disclosure of the following:
I $\quad$ Details of reversals of prior year write-downs
II $\quad$ Separate disclosure of the caryying amount of inventories carried at
$\quad$$\quad$ cost and those carried at net realisable value
III $\quad$ The accounting policy adopted by the entity in relation to inventory valuation
IV $\quad$ The carrying amount of inventory by class

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

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Definitions:

Cross-functional

Relating to or involving multiple departments or areas of expertise within an organization, aimed at achieving a specific goal.

Empowered Members

Individuals within an organization or team who are given authority, resources, and the capability to make decisions and contribute to the group's objectives.

Entire Service

The full range of services or support provided by an organization or system, covering all aspects of its offering.

Self-managed Team

A group of employees who are provided with the autonomy to plan, execute, and control their own work tasks and processes, often without direct supervision.