Which of the following would not be included in the definition of
inventory under IFRS?
a. Photocopy paper held for sale by an office supply store.
b. Stereo equipment held for sale by an electronics store.
c. Used office equipment held for sale by the human relations
department of a plastics company.
d. All of the above would meet the definition.
2. Which of the following would not be a line item of a company
reporting costs by nature?
a. Depreciation expense. c. Interest expense.
b. Salaries expense. d. Manufacturing expense.
