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11 Abnormal amounts of wasted materials costs are not included in valuing inventory. * (1.5 Points) True. False. 12 According to IAS 16 requirements: When

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11 Abnormal amounts of wasted materials costs are not included in valuing inventory. * (1.5 Points) True. False. 12 According to IAS 16 requirements: When an asset is revalued, any decrease in carrying amount should charged off to the income statement. * (1.5 Points) True. False

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