Following IFRS, reversal of an inventory write-down ________.
A) occurs when there is clear evidence of a decrease in net realizable value
B) takes place when selling prices decrease following a write-down
C) is limited to the amount of the original write-down
D) will increase inventory but decrease reported income

Question

Quizplus · Accepted Answer

Under IFRS, the reversal of an inventory write-down is limited to the amount of the original write-down, ensuring that inventory is not overstated.

Following IFRS, Reversal of an Inventory Write-Down ________