The cost of sub-contracted work is not included in costs of conversion for the purposes of calculating the cost of inventory.

Name: The cost of sub-contracted work is not included in costs of conversion for the purposes of calculating the cost of inventory.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

According to the International Financial Reporting Standards, the costs of sub-contracted work are included in the costs of conversion for the purposes of calculating the cost of inventory.

The Cost of Sub-Contracted Work Is Not Included in Costs