Which of the following is not permitted under IFRS?
a) reporting of any type of inventory at net realizable value
b) lower-of-cost-or-market valuation
c) reversals of lower-of-cost-or-market write-downs
d) the use of the LIFO cost flow assumption
Answer: d) the use of the LIFO cost flow assumption
Business
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A one-year zero-coupon bond yields 4.0%. The two- and three-year zero-coupon bonds yield 5.0% and 6.0% respectively. The rate for a one-year loan beginning in one year is closest to:
A. 4.5%. B. 5.0%. C. 6.0%.
Business
Media charges are generally lower for manufacturers than for retailers
Indicate whether the statement is true or false
Business