Inventories of certain minerals and agricultural products are valued at:
a) cost
b) lower of cost or market
c) net realizable value
d) replacement cost
Ans: c) net realizable value
Business
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The way members of the organization conduct themselves with customers or other outsiders is one indicator of which of the organizational characteristics?
A. Observed behavior regularities B. Dominant values C. Norms D. Organizational climate
Business
The net realizable value approach requires that the net realizable value of by-products and scrap be treated as a reduction in joint costs allocated to primary products
Indicate whether the statement is true or false
Business