Single choice 49) Inventory is carried in the Statement of financial position at what amount? The lower of cost and net realizable value Historic cost O Fair value Depreciated historic cost Single choice 50) Analysts of financial statements often adjust the reported figures by removing non-recurring or non-predictable line items to derive a more robust number upon which forecasts can be based. What is this phis process is know as? Rationalization O Projection Normalization Standardization Single choice 51) Which of the folowing statements regarding the comparison of loans and bonds is correct? Bonds are usually issued in the capital markets whereas a loan represents cash borrowed from a bank Bank loans normally have a longer term than bonds Bank loans refinancing is complex and difficult compared to corporate bonds Bank loans are normally at fixed rates, bonds are normally at variable rates