Which statement(s) is correct?

(i) If the cost of all consumable aids on hand at year end is $57,000 or more, no deduction is allowed in that year, rather this item must be capitalised.

(ii) Containers, packages, labels, fuel and oil are consumable aids.

(iii) Spare parts may be treated as trading stock where they are held for sale or exchange in the ordinary course of business.

(iv) Taxpayers whose turnover in an income year is $1.3 million or less, and whose closing stock is estimated to be less than $5,000 may value their closing stock at the same value as their opening stock.

(v) Consumable aids for tax purposes are valued according to financial reporting standard NZ-IAS 2.

(a) (ii)

(b) (i) and (iii)

(c) (iii) and (v)

(d) (iii)

(e) (iv)