Recent developments have made much of a company‘s inventory obsolete. This obsolete inventory should be??

Accounting Mcqs
BILAL KHATTAK0

A. Written down to zero or its scrap value 
B. Shown in the Balance Sheet at its replacement cost
C. Shown in the Balance Sheet at cost, but classified as a non-current asset
D. Carried in the accounting records at cost until it is sold

Related Mcqs:

  1. Which of the following statements best describes the purpose of depreciation??
  2. The cost of obsolete inventory acquired several years ago, to be considered in a keep vs. disposal decision is an example of :?
  3. Which of the following statements is false ? select the false from below options?
  4. If a company has contingent liabilities, they appear in the__________??
  5. Capital expenditure is an expenditure which?
  6. Prepaid expenses are valued on the Balance Sheet at?
  7. Outstanding salaries is shown as___________??
  8. Arrangement of Balance Sheet in a logical order is known as __________??
  9. Which of the following is NOT the responsibility of a company’s directors??
  10. During the year 2011-2012, the value of closing inventory was overstated by 25,000. Which of the following is true??

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