AASB 102 Requires That Any Write Down to Net Realisable

question 30

Multiple Choice

AASB 102 requires that any write down to net realisable value:

• A) must be recognised as an expense in the period that the write down occurs
• B) must be reversed when there is clear evidence of an increase in value
• C) must be applied only on an item by item basis
• D) A and B above

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Definitions:

Policy Decisions

The process of selecting among different strategies or actions by governmental or organizational authorities to address public or organizational issues.

Leadership Strength

The inherent abilities or qualities that enable a leader to effectively guide and influence others.

Intimidation

The act of threatening or influencing someone through fear to compel or deter actions against their will.

Delegation

The assignment of authority and responsibility to another person to carry out specific activities while the person delegating retains the ultimate responsibility for the outcome.