Inventories are covered by which of the following standards?
A) AASB 138
B) AASB 6
C) AASB102
D) AASB 116

Name: Inventories are covered by which of the following standards? A) AASB 138 B) AASB 6 C) AASB102 D) AASB 116
Brand: Quizplus
Rating: 4.8 (31 reviews)

Question

Quizplus · Accepted Answer

AASB 102 is the standard specifically dedicated to the accounting for inventories. It outlines the accounting treatment for inventories, including the measurement at lower of cost and net realizable value, and the recognition of an expense, typically as the inventory is consumed or sold.

Inventories Are Covered by Which of the Following Standards