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:

Most Human

Characteristics, behaviors, or traits deemed uniquely or predominantly found in humans.

Cerebellum

A part of the brain at the back of the skull in vertebrates, involved in coordinating movement and balance.

Limbic System

A complex system of nerves and networks in the brain, involved with instinct and mood, controlling basic emotions and drives.

Endocrine System

A network of glands in the body that produce and release hormones directly into the bloodstream to regulate body functions.