CFA Practice Question

CFA Practice Question

Reversal of inventory write-downs is:
A. not allowed in IFRS, but allowed in US GAAP if certain conditions are met.
B. not allowed in US GAAP, but allowed in IFRS if certain conditions are met.
C. not allowed in both US GAAP and IFRS.
Explanation: Just have to remember this stuff, go through the curriculum.

User Contributed Comments 1

User Comment
Rohule inventory its not the same as held for sale?
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