📒
Recent developments have made much of a company‘s inventory obsolete. This obsolete inventory should be?
Accountingmedium
Written down to zero or its scrap value
BShown in the Balance Sheet at its replacement cost
CShown in the Balance Sheet at cost, but classified as a non-current asset
DCarried in the accounting records at cost until it is sold
Correct Answer: A. Written down to zero or its scrap value
Related Questions
Accounting
The assets which have some market value are called ____________?
Accounting
Assets having physical existence are called ___________?
Accounting
When owner withdraw cash for its private use, it is called ___________?
Accounting
Building and furniture are called ____________?
Accounting
Which of the following is true about a trial balance?