When Was the First Cash Flow Standard Issued in Australia

question 14

Multiple Choice

When was the first cash flow standard issued in Australia?

• A) 1991
• B) 1968
• C) 1996
• D) 1983

---

Definitions:

Production Cost Report

A document that summarizes the total cost associated with producing a specific quantity of goods during a specific period.

Manufacturing Costs

Expenses directly related to the production of goods, including raw materials, labor, and manufacturing overhead.

Equivalent Units

A concept in cost accounting that is used to allocate costs to partially completed goods, measured in the amount of finished goods units.

Conversion Costs

The combined costs of direct labor and overhead expenses incurred to convert raw materials into finished goods.