PAS 2, Inventories 388 Which one of the following is included in the scope of PAS 2 but excluded from the measurement rule? A Finished goods produced. B. Biological assets held for regular sale. C. Damaged merchandise inventory of a retailer. PRTC 0513 D Land held for resale by subdivision company or real estate developer 389 Which of the following is excluded in the scope of PAS2 on Inventories? C. Manufacturing supplies A. Construction in progress. . B Inventories of a service provider. D. Raw materials 390. Inventories under PAS 2 do not include A. Construction-in-progress. B Finished goods. C. Goods held for resale. D. Raw materials. 391. Which may be included as part of the cost of inventories under PAS 222 A. Selling costs. B. Administrative costs. C. Costs of designing products for specific customers. D. Abnormal amounts of wasted materials, labor or other production costs 392 Costs that are incurred in bringing the inventories to their present location ad condition are capitalized as cost of inventories and these include A distribution cost B. cost of designing products for specific customers. C. abnormal amount of wasted material, labor and production cost. D. storage cost not necessary in the production process before a futhe production stage. 393. Under PAS 2, the fixed production overhead is allocated to the inventory unts a the basis of the production facility's A. actual capacity. B. ideal capacity. C. normal capacity D. theoretical capacity. 394. Abnormal spoilage in a manufacturing process should be charged to A accumulated profit or los. B. manufacturing overhead applied. D. profit or loss. C. manufacturing overhead control 395. Under PAS 2, items of inventory that are used by business enterprise a components in a self-constructed property asset are required to be A. capitalized and depreciated. B. added to a 'property construction' provision account C. expensed directly into equity in the period in which the items are used D. aggregated into the 'cost of goods sold' expense in the period in which e items are used.
PAS 2, Inventories 388 Which one of the following is included in the scope of PAS 2 but excluded from the measurement rule? A Finished goods produced. B. Biological assets held for regular sale. C. Damaged merchandise inventory of a retailer. PRTC 0513 D Land held for resale by subdivision company or real estate developer 389 Which of the following is excluded in the scope of PAS2 on Inventories? C. Manufacturing supplies A. Construction in progress. . B Inventories of a service provider. D. Raw materials 390. Inventories under PAS 2 do not include A. Construction-in-progress. B Finished goods. C. Goods held for resale. D. Raw materials. 391. Which may be included as part of the cost of inventories under PAS 222 A. Selling costs. B. Administrative costs. C. Costs of designing products for specific customers. D. Abnormal amounts of wasted materials, labor or other production costs 392 Costs that are incurred in bringing the inventories to their present location ad condition are capitalized as cost of inventories and these include A distribution cost B. cost of designing products for specific customers. C. abnormal amount of wasted material, labor and production cost. D. storage cost not necessary in the production process before a futhe production stage. 393. Under PAS 2, the fixed production overhead is allocated to the inventory unts a the basis of the production facility's A. actual capacity. B. ideal capacity. C. normal capacity D. theoretical capacity. 394. Abnormal spoilage in a manufacturing process should be charged to A accumulated profit or los. B. manufacturing overhead applied. D. profit or loss. C. manufacturing overhead control 395. Under PAS 2, items of inventory that are used by business enterprise a components in a self-constructed property asset are required to be A. capitalized and depreciated. B. added to a 'property construction' provision account C. expensed directly into equity in the period in which the items are used D. aggregated into the 'cost of goods sold' expense in the period in which e items are used.
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing
Section: Chapter Questions
Problem 14E
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