The class of assets that is to be valued at lower than cost or net realisable value is:
A) Non-current assets.
B) Debtors.
C) Self-generating and regenerating assets.
D) Inventories.
E) All of the given answers.

Question

Quizplus · Accepted Answer

The correct answer is inventories. Inventories should be valued at the lower of cost and net realisable value as per IAS 2. Non-current assets, debtors and self-generating/regenerating assets are not required to be valued at lower than cost or net realisable value.

The Class of Assets That Is to Be Valued at Lower