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Problem 1: AASB 102 requires which of these disclosures for inventory?
Select one:
a. The accounting policies adopted
b. All responses are correct
c. The amount of any write-down of inventories recognised as an expense during the period
Problem 2: The justification for the inventory valuation rule, the lower of cost and net realisable value, is:
a. materiality
b. reliability
c. conservatism
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Built-in gains tax. Theta Corporation formed 15 years ago. In its first year, it elected to use the cash method of accounting and adopted a calendar year as its tax year. It made an S election on August 15 of last year, effective for Theta’s current ..
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f you were a small business owner would you implement an activity-based costing system. What potential benefits or pitfalls do you foresee? Discuss the risk associated with being over or under leveraged.
Discuss the techniques that have been developed to assist in business decision making when single or multiple limiting factors are encountered.
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