
Inventory & Biological Asset
Quiz
•
Social Studies
•
1st - 5th Grade
•
Practice Problem
•
Easy
afifah rohadatulaisy
Used 10+ times
FREE Resource
Enhance your content in a minute
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Inventories should be measured at the lower of cost and net realisable value
False
True
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does NOT form part of cost of inventory?
Costs to bring into current location & condition
Conversion costs
Selling costs
Purchase price
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The net realisable value of an item is essentially its net selling proceeds after all costs have been deducted
True
False
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
IAS 41 deals with accounting for the period as plants / animals grow.. until Harvest
Do you think it also deals with land on which these plants / animals grow?
No
Yes
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
So we buy some plants (or an animal) - what do you think the standard calls these?
Biological assets
Aniplants
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
if we buy some biological assets - at what value shall we put them on the SFP?
Zero
Fair value less costs to sell
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
So we have had these biological assets for a year - and they still haven't harvested - what do you think we should do at the year end?
(Don't forget animals and plants GROW)
Revalue them
Leave them at cost
Create a free account and access millions of resources
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
10 questions
Natural Resources
Quiz
•
5th Grade
15 questions
Our water wealth
Quiz
•
4th Grade
10 questions
World Around Us
Quiz
•
2nd Grade
20 questions
Social Studies: Economy (May 8)
Quiz
•
3rd Grade
18 questions
Unit 8, 9 Test Review 2021-2022
Quiz
•
5th Grade
20 questions
War of 1812
Quiz
•
5th Grade
20 questions
The Cleanliness of the house
Quiz
•
1st Grade
10 questions
Resilience
Quiz
•
1st - 2nd Grade
Popular Resources on Wayground
5 questions
This is not a...winter edition (Drawing game)
Quiz
•
1st - 5th Grade
15 questions
4:3 Model Multiplication of Decimals by Whole Numbers
Quiz
•
5th Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
10 questions
The Best Christmas Pageant Ever Chapters 1 & 2
Quiz
•
4th Grade
12 questions
Unit 4 Review Day
Quiz
•
3rd Grade
10 questions
Identify Iconic Christmas Movie Scenes
Interactive video
•
6th - 10th Grade
20 questions
Christmas Trivia
Quiz
•
6th - 8th Grade
18 questions
Kids Christmas Trivia
Quiz
•
KG - 5th Grade
Discover more resources for Social Studies
5 questions
Ch7.3 Exchanging Goods and Services
Quiz
•
3rd Grade
14 questions
Winter Traditions - 3rd Grade
Quiz
•
3rd - 4th Grade
21 questions
Christmas
Quiz
•
4th Grade
27 questions
Industrial Revolution - 5
Quiz
•
5th Grade
20 questions
Adjectives
Quiz
•
4th Grade
10 questions
Bill of Rights
Quiz
•
4th Grade
18 questions
Module Test: Animals updated- use this
Quiz
•
3rd Grade
10 questions
The Constitution & the Bill of Rights Quiz
Quiz
•
5th Grade
