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 answer choices are correct.

Question

Quizplus · Accepted Answer

This is because inventories can include goods held-for-sale in the ordinary course of business, goods in the process of production for sale in the ordinary course of business, and materials or supplies to be consumed in the production process or in the providing of services.

Inventories Are Defined by IFRS as