New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    From the below Ind AS 2 is not applicable in which of

    the following cases?
    A Construction contract which is in progress Correct Answer Incorrect Answer
    B Restaurant that prepares and sells food Correct Answer Incorrect Answer
    C Retailer that sells clothing Correct Answer Incorrect Answer
    D Manufacturing company that produces electronics Correct Answer Incorrect Answer

    Solution

    Ind AS 2 - Inventories is not applicable to the following types of assets: Work in progress arising under construction contracts Financial instruments, such as shares and bonds, that are held for trading purposes Biological assets that are measured at fair value less costs to sell

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