With regards to inventory which of the following would not be classed as conservative accounting?

I. Slow-moving inventory is being written down too slowly.

II. Consistently and quickly applying the lower of cost and net realisable value rule.

III. Obsolete inventory is still recorded as an asset.

IV. Inventory is being overstated by including non-existent inventory in accounts.

Select one:

A.

I and III.

B.

I, II and IV.

C.

II and IV.

D.

I, III and IV.