Quiz Summary
0 of 10 Questions completed
Questions:
Information
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
Results
Results
0 of 10 Questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
Categories
- IAS 2 – Inventories 0%
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- Current
- Review
- Answered
- Correct
- Incorrect
-
Question 1 of 10
1. Question
Which of the following does IAS 2 apply to?
CorrectIncorrect -
Question 2 of 10
2. Question
IAS 2 does not permit the use of the __________ formula to measure the cost of inventories.
CorrectIncorrect -
Question 3 of 10
3. Question
Which of the following statements define inventories?
CorrectIncorrect -
Question 4 of 10
4. Question
Which of the following statements define the term ‘net realisable value’?
CorrectIncorrect -
Question 5 of 10
5. Question
Net realisable value refers to the gross amount that an entity expects to realise from the sale of inventory in the ordinary course of business.
CorrectIncorrect -
Question 6 of 10
6. Question
According to IAS 2, how shall inventories be measured?
CorrectIncorrect -
Question 7 of 10
7. Question
Which of the following does the cost of inventories comprise?
CorrectIncorrect -
Question 8 of 10
8. Question
Which of the following is not included in cost of purchase of inventories?
CorrectIncorrect -
Question 9 of 10
9. Question
Variable production overheads are those indirect costs of production that vary directly, or nearly directly, with the volume of production, such as __________.
CorrectIncorrect -
Question 10 of 10
10. Question
Normal capacity is the production expected to be achieved on average over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance.
CorrectIncorrect