Which of the following is not recognised as an expense in accordance with AASB 102:
A) Cost of goods sold
B) Write-downs of inventories to net realisable value
C) Reversal of write downs to net realisable value
D) Inventories items used by an entity as components in self-constructed property, plant or equipment

Question

Quizplus · Accepted Answer

Inventories items used by an entity as components in self-constructed property, plant or equipment are recognised as part of the cost of the related asset and not as an expense in accordance with AASB 102. A, B, and C are all recognised as expenses under AASB 102.

Which of the Following Is Not Recognised as an Expense