Once Inventory Is Recorded,it Continues to Be Carried at the Amount

question 2

Multiple Choice

Once inventory is recorded,it continues to be carried at the amount initially recognized unless

• A)the market value increases over the initial cost
• B)the market value decreases below the initial cost
• C)the market value increases over the initial cost at year-end
• D)the cost to replace the inventory at year-end is below the initial cost of the inventory

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Definitions:

Trailer Component

A part or element used in the construction or assembly of a trailer, such as axles, brakes, or lighting systems.

Tractor Chassis

The main structural frame of a tractor, to which all other components and systems are attached or supported.

Kingpin

(1) The linkage pin used in a steering knuckle that permits the assembly to pivot, or the tempered steel, coupling pin mounted on a trailer upper coupler that engages with fifth wheel jaws; (2) The lugged pin built into a trailer upper coupler assembly that engages to jaws in a fifth wheel assembly, permitting articulation at the fifth wheel. Forged from middle alloy steels and tempered. In North America, a kingpin is usually welded into the upper coupler; elsewhere, it is more often bolted.

Sliding

The motion where there is continuous contact between a moving object and a surface, often leading to wear or the generation of heat.