CFA Practice Question

There are 520 practice questions for this study session.

CFA Practice Question

Is the reversal of an inventory write-down permitted under U.S. GAAP and IFRS?

A. No, under both.
B. Yes, under both.
C. Yes, under IFRS, but not under U.S. GAAP.
Correct Answer: C

The reversal of an inventory write-down is permitted under IFRS but not under U.S. GAAP.

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