Under International Financial Reporting Standards (IFRS), which of the following statements regarding the lower-of-cost-or-market rule is incorrect?
A) It is not necessary to record inventory at the lower-of-cost-or-market.
B) The market value is defined as net realizable value.
C) If the historical cost is higher than the net realizable value, the inventory must be written down.
D) The IFRS approach results in fewer write-downs of inventory than U.S. GAAP.
A) It is not necessary to record inventory at the lower-of-cost-or-market.
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Someone who has an average cash balance of $45 and spends $15 per day will visit the ATM once in every ____ days.
A. 4 B. 5 C. 6 D. 7
Answer the following questions regarding economic value added (EVA):
a. What is it intended to do? b. How is it measured? c. How is the measurement different than that of RI? d. Why is EVA a better performance measure of RI? e. What is the major problem with using EVA as a long-term performance measure?
Who is (are) the most referenced researcher(s) identifying five major dimensions on which cultures differ?
A. House et al. B. Adler and Bartholomew C. Hofstede D. Lord and Maher
The ultimate economic burden of a tax is best captured by:
A. the effective tax rate. B. the proportional tax rate. C. the average tax rate. D. the marginal tax rate. E. None of the choices are correct.