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Basic Question 9 of 26
Is the reversal of an inventory write-down permitted under U.S. GAAP and IFRS?
B. Yes, under both.
C. Yes, under IFRS, but not under U.S. GAAP.
A. No, under both.
B. Yes, under both.
C. Yes, under IFRS, but not under U.S. GAAP.
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I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.
Edward Liu
Learning Outcome Statements
describe the measurement of inventory at the lower of cost and net realisable value and its implications for financial statements and ratios
CFA® 2024 Level I Curriculum, Volume 2, Module 6.