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Which of the following assets is/are to be valued at the lower of cost or net realizable value?

(a) Goodwill.

b) Inventories.

(c) Investments

(d) Both (b) and (c) above.

IFRS
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Question added by Almutaz Bakry Sidahmed , Internal Audit Manager , Banan real estate
Date Posted: 2015/03/01
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Muhammad Ramzan Tufail ACCA
by Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group

(B) is the Correct Ans.

 

Inventories

Deleted user
by Deleted user

b) Inventories are to be valued at lower cost

Mohammad Ismail
by Mohammad Ismail , ACCA Trainee , Zarai Taraqiati Bank Limited

B) Inventories is the correct answer.

aziz urrehman
by aziz urrehman , key account executive , alkhair group of companies foam manufacturing

B is the ans for the Question .As per IAS-2

Faisal Majeed - Chartered Accountant
by Faisal Majeed - Chartered Accountant , Regional Project Financial Controller , Barr + Wray FZE LLC & Barr + Wray (Hong Kong Limited)

As per IAS-2, inventories shall be measured at lower of cost of NRV

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