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

---

Definitions:

Early Friendships

Relationships formed between young children, playing a crucial role in social development and emotional well-being.

Stable

Characterized by constancy, lack of change, and resistance to disruption over time.

Attachment Bonds

Emotional bonds that form between individuals, particularly between a child and caregiver, crucial for personal development and social connections.

Collectivist

Pertaining to cultural or societal norms that emphasize the needs, goals, and views of the group over that of the individual.