23. Which of the following is correct if an investor holds 30% of the voting power of an investee? * (1 Point) The investor must classify the investment either at fair value or at amortized cost at its option The investor should use the equity method unless it is clearly demonstrable that the investor has no power to participate in the financial and operating policy decisions of the investee O At all circumstances, the investor must account its investment using the equity method The investor should use the fair value method unless it is clearly demonstrated that the investor has a power to participate in the financial and operating policy decisions of the investee 27. Costs that are incurred in bringing the inventories to their present location and condition are capitalized as cost of inventories and these include * (1 Point) Abnormal amount of wasted material, labor and production costs Storage cost not necessary in the production process before further production storage Costs of designing products for specific customers Selling costs 30. The recoverable amount of a cash generating unit is the * (1 Point) Lower between the selling price less cost to sell and the discounted cash flow from the use and disposal of the unit Undiscounted cash flows from the use of the unit Higher between the selling price less cost to sell and the discounted cash flow from the use and disposal of the unit Selling price less cost to sell of all the assets within the unit 34. Under IAS 36, which of the following statements is true? 1. An entity shall assess at each reporting date whether there is an indication that an asset may be impaired and if any such indication exists, the entity shall estimate the recoverable amount of the asset II. Irrespective of whether there is an indication of impairment, an entity shall test an intangible asset with an indefinite useful life or an intangible asset not yet available for use, or goodwill acquired in business combination for impairment annually. * (1 Point) O Both I and II O ll only I only Neither I nor II 36. Revisions of the Conceptual Framework (1 Point) Will not automatically lead to changes to the Standards. Are no longer expected after the release of the new Conceptual Framework. Are expected every three to five years. Will automatically lead to changes to the Standards