Multiple Choice
Cost of inventory is a sum of
A) Cost of purchase and cost of conversion
B) Direct cost, indirect cost and other cost
C) Cost of purchase, cost of conversion and other cost to bring the material to the present location
D) None of these
Correct Answer:
Verified
Correct Answer:
Verified
Q3: Indian Accounting Standard 3 (AS3) deals with….<br>A)Amalgamation<br>B)Lease<br>C)Cash
Q4: The useful life of an intangible asset
Q5: Inventories must be measured at<br>A)Cost<br>B)Lower of cost
Q6: Which of the following asset is not
Q7: Property, Plant and Equipment are defined as,<br>A)Tangible
Q9: Consumable stores are<br>A)Inventories<br>B)Property, Plant and Equipment<br>C)Investment Property<br>D)Intangible
Q10: FASB is based in…………….<br>A)London<br>B)Chennai<br>C)New York<br>D)Norwalk
Q11: Cost of inventory does not include<br>A)Salary of
Q12: ASB was set up in India on………………<br>A)21
Q13: An entity must measure its Property, Plant