The Following Information Pertains to Inventory Held by a Company

question 29

Multiple Choice

The following information pertains to inventory held by a company at December 31, 2011. $$\begin{array} { | l | r | } \hline \text { Historical cost } & \$ 25,000 \\\hline \text { Replacement cost } & \$ 20,000 \\\hline \text { Net realizable value } & \$ 21,000 \\\hline \text { Normal profit Margin } & 20 \% \\\hline\end{array}$$
-As a result of inventory loss, what is the difference in income between reporting using U.S. GAAP and IFRS?

• A) U.S. GAAP income is $1,000 higher.
• B) U.S. GAAP income is $2,000 lower.
• C) IFRS income is $1,000 higher.
• D) IFRS income is $1,000 lower.
• E) IFRS income is $5,000 higher. U.S. GAAP loss is $5,000 and IFRS loss is $4,000 which results in IFRS income being $1,000 higher.

Recognize the importance of managing employee behavior in public organizations for effective governance.

Comprehend the significance of organizational behavior in formulating strategies for human resource management.

Identify the functionalities of different management functions and their impact on organizational effectiveness.

Understand the role of organizational culture and leadership in shaping public organization behavior.

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