If the Selling Price of Inventories That Has Been Written

question 28

Multiple Choice

If the selling price of inventories that has been written down to net realisable value in a prior period, subsequently recovers, the:

• A) previous amount of the write-down can be reversed.
• B) carrying amount of the inventories cannot be adjusted.
• C) value adjustment can be recognised immediately in equity.
• D) adjustment must be recognised in a 'provision for future inventories write-downs' account.

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Definitions:

Office Clipboard

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Flash Fill

A feature in some spreadsheet software that automatically fills in data based on the pattern of entered information, simplifying data entry tasks.

Insert Function Dialog Box

A feature in spreadsheet software that helps users find and insert functions into cell formulas, often providing descriptions and assistance with function syntax.

Formula Bar

A feature in spreadsheet applications that displays the formula or value contained in the active cell.