The Foundation of Every Business Is ________

question 100

Multiple Choice

The foundation of every business is ________.

• A)its products and services
• B)satisfying the customer through a customer-driven marketing strategy
• C)doing whatever it takes to earn a profit
• D)operating in a socially responsible manner

Understand the measurement principles of inventories according to AASB 102/IAS 2 including the lower of cost and net realisable value.

Comprehend the terms and implications of trade discounts on inventory transactions.

Identify and apply appropriate inventory costing methods to various inventory types.

Recognize the inclusion and exclusion of certain costs in the cost of inventories.