Question
a.
Only whether it is based on historical cost.
b.
Only whether it is based on replacement cost.
c.
Only whether it is based on net realizable value.
d.
The mode of valuation should be stated.
Posted under IC 89 Management Accounting
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. What should be stated regarding the mode of valuation of inventories?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. How should trade receivables be classified?
View solution
Q. What should be separately stated regarding cash and cash equivalents?
View solution
Q. How are short-term loans and advances classified?
View solution
Q. What should be disclosed regarding other current assets?
View solution
Q. How are contingent liabilities classified?
View solution
Q. What should be disclosed regarding dividends?
View solution
Q. In the notes to the financial statements, how should revenue from operations be disclosed for a company other than a finance company?
View solution
Q. How should revenue from operations be disclosed for a finance company in the notes to the financial statements?
View solution
Q. How should finance costs be disclosed in the statement of profit and loss?
View solution
Q. How is other income classified in the statement of profit and loss?
View solution
Q. How should net gain or loss on foreign currency transaction and translation be treated in the financial statements?
View solution
Q. What should be disclosed regarding payments to auditors in the financial statements?
View solution
Q. How should details of items of exceptional and extraordinary nature be disclosed?
View solution
Q. How are amounts set aside or proposed to be set aside to reserves treated in the financial statements?
View solution
Q. How should expenditure incurred on each of the listed items be presented in the profit and loss account?
View solution
Q. How should dividends from subsidiary companies be treated in the profit and loss account?
View solution
Q. What information should be provided in the profit and loss account by way of a note regarding expenditure in foreign currency?
View solution
Q. What information should be provided in the profit and loss account by way of a note regarding the value of imports?
View solution
Q. What are the primary legislations providing the legal framework for insurance accounting in India?
View solution
Q. According to Section 11 of the Insurance Act, 1938, what financial statements are insurers required to prepare at the expiration of each financial year?
View solution
Recommended Subjects
Are you eager to expand your knowledge beyond IC 89 Management Accounting? We've handpicked a range of related categories that you might find intriguing.
Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!
