The primary basis of accounting for inventories is cost. A departure from the cos basis of pricing is the inventory is required where there is evidence that when the goods are sold in the ordinary course of business their
a) selling price will be less than their replacement cost
b) replacement cost will be more than their net realizable value
c) cost will be less than their replacement cost
d) future utility will be less than their cost
Ans: d) future utility will be less than their cost
Business
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Which of the following are true statements about norms?
a. they are often discussed openly among members b. they are typically unwritten c. they exert a powerful influence on group behavior d. they are general rules of behavior
Business
Managers can use CVP relationships to conduct sensitivity analysis
Indicate whether the statement is true or false
Business