AASB 102 Requires Which of These Disclosures for Inventory

question 23

Multiple Choice

AASB 102 requires which of these disclosures for inventory?

• A) The amount of any write-down of inventories recognised as an expense during the period
• B) The total carrying amount of inventories
• C) The accounting policies adopted
• D) All of the above

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Definitions:

Skydiving Experience

Skydiving experience covers the activities, sensations, and emotions associated with performing a parachute jump from an airplane.

Physical Object

An item that can be seen and touched, possessing physical characteristics such as shape, volume, and mass.

Service

The action of helping or doing work for someone, often referring to activities performed in exchange for payment that do not result in the ownership of tangible goods.

Marketing

The business process of identifying, anticipating, and satisfying customers' needs and desires through the creation and exchange of value.