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42. Which of the following cost should be included as capitalizable cost of an inventory? + (1 Point) Storage cost necessary for further production of the good Cost incurred in selling the inventory Freight cost on goods acquired FOB destination Abnormal amounts of waste materials from the production process 43. Which of the following is not true regarding the standards that govern Agriculture? * (1 Point) not measi reliably shall be On the statement of financial position biological assets whose fair value measure using revaluation model At the time of harvest agricultural produce are recorded at fair value less cost to sell For the biological asset the change in tarkalue less estimated cost to sell is reported as income or loss in the profit or loss section in the period attributable to liti The price in the active marcet is considered to be the best basis for determining the fair value of biological assets 44. What will be the effect on the investment in associate account if the associate generates a net loss? (1 Point) The investment in associate account is debited equal to the amount of the share in loss The balance of the investment in associate may or may not be reduced based on the discretion of the management O The investment account is credited to reflect the reduction in balance equal to the net loss of the associate The balance of the investment in associate is reduced by the amount of share in net loss 45/Which is correct in relation to an accountable event? * Point) only those economic activities are recorded in the accounting books CD Non-quantifiable business matters may be recorded Accounting involves measurement of non-economic resources and obligation of the firm An event is accountable when it has an effect on assets and liabilities only 46. How does the term measurement is being applied in accounting? * in (1 Point) Measuring the relevance of accounting reports on vanous stakeholders It means the way of selecting events that must be recorded or not This means measuring the peso amount to be assigned on an economic event This pertains to measuring the quantifiable impact of audit report