Accounting standard IAS 2/AASB 102 Inventories:
A) only allows the use of direct costing for external financial reporting purposes.
B) only allows the use of absorption costing for external financial reporting purposes.
C) allows the use of direct costing and absorption costing for external financial reporting purposes.
D) does not allow the use of either direct costing or absorption costing for external financial reporting purposes.
Correct Answer:
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