Which of the following statements is true regarding inventory write down and reversal of write down?
A. Rversal of inventory writedown is prohibited
B. Separate reporting of reversal of inventory writedown is required
C. Entities are required to record writedown in a separate loss account
D. All of the choices are correct
Answer: B. Separate reporting of reversal of inventory write down is required
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.