Under IAS 2/AASB 102 the Costing Method That Is Not

question 3

Multiple Choice

Under IAS 2/AASB 102 the costing method that is not permitted is:

• A)Specific identification
• B)FIFO
• C)Weighted/moving average
• D)LIFO

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Definitions:

High-Attitude-Low-Maintenance

Describes individuals who have a positive outlook and require minimal attention or support to stay motivated or satisfied.

Consciously Competent

A stage of learning in which an individual is aware of their skill and can perform a task effectively through conscious effort.

Consciously Incompetent

Recognition of one's own lack of skills or knowledge in a particular area, which is considered the second stage in the process of learning and skill development.

Unconsciously Competent

A stage of skill acquisition where an individual can perform activities proficiently without conscious effort or awareness.