Which of the Following Disclosures Are Not Required Under AASB

question 10

Multiple Choice

Which of the following disclosures are not required under AASB 13:

• A) The valuation techniques used to measure fair value.
• B) The inputs used to measure fair value.
• C) The level of the fair value hierarchy within which the fair value measurements are categorised.
• D) Quantitative information about all unobservable inputs used in the fair value measurement.

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Definitions:

Predetermined Overhead Rate

A rate used to allocate overhead costs to products or jobs, computed before the costs are incurred, based on estimated rather than actual costs.

Direct Labor-Hour

Direct labor-hour is a measure of the time workers spend on specific tasks directly involved in the production of goods.

Overapplied Overhead

A situation where the allocated overhead cost is more than the actual overhead cost incurred.

Underapplied Manufacturing Overhead

A situation where the actual manufacturing overhead costs are greater than the allocated overhead costs.