Unlike IFRS, under Japanese GAAP, inventories may be valued at:
A)cost.
B)market.
C)lower of cost or net realizable value.
D)lower of cost or market.

Name: Unlike IFRS, under Japanese GAAP, inventories may be valued at: A)cost. B)market. C)lower of cost or net realizable value. D)lower of cost or market.
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Question

Quizplus · Accepted Answer

Unlike IFRS, Japanese GAAP allows inventories to be valued at cost only, and not at market value or net realizable value. Therefore, the correct choice is (A).

Unlike IFRS, Under Japanese GAAP, Inventories May Be Valued At