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Under CAS 1, a company should abandon the historical cost principle when the future utility of the inventory item falls below its original cost.

Under CAS 1, a company should abandon the historical cost principle when the future utility of the inventory item falls below its original cost.
A.正确
B.错误
正确答案：正确

标签：中国会计准则全英文

上一条：The term ‘net realizable value’ (NRV) refers to the net amount that a company expects to realize from the sale of inventory.

下一条：Under CAS 1, if inventory is written down under the lower-of-cost-or-NRV valuation, the new basis is now considered its cost. As a result, the inventory may not be written back up to its original cost in a subsequent period.