Under IFRS, an entity should initially recognize inventory when
A) it has control of the inventory
B) it expects it to provide future economic benefits
C) the cost of the inventory can be reliably measured
D) All of these choices are correct

Question

Quizplus · Accepted Answer

Under IFRS, an entity should initially recognize inventory when it has control of the inventory, expects it to provide future economic benefits, and the cost of the inventory can be reliably measured. Therefore, all of these choices are correct.

Under IFRS, an Entity Should Initially Recognize Inventory When