Inventories are defined by IFRS as
A)held-for-sale in the ordinary course of business.
B)in the process of production for sale in the ordinary course of business.
C)in the form of materials or supplies to be consumed in the production process or in the providing of services.
D)All of these answers are correct.

Question

Quizplus · Accepted Answer

Inventories can be held-for-sale in the ordinary course of business, in the process of production for sale in the ordinary course of business, or in the form of materials or supplies to be consumed in the production process or in the providing of services. Therefore, all of these answers are correct.

Inventories Are Defined by IFRS as