Author Question: Which of the following is false regarding net realizable value (NRV)? (Read 38 times)

mmm · **on:** Mar 6, 2021

Question 1

Which of the following is a is a market-based approach to allocating joint costs?
◦ sales units
◦ units of production
◦ physical measures
◦ net realizable value

Question 2

Which of the following is false regarding net realizable value (NRV)?
◦ it is better to use a product's market value at the split-off point than its estimated NRV
◦ the estimated NRV at the split-off point is calculated by taking the sales value after further processing and deducting additional processing costs
◦ NRV is the estimated selling price after processing the product beyond the split-off point.
◦ the constant NRV method uses an identical gross-margin percentage for each product to allocate joint costs

hugthug12 · **Reply #1 on:** Mar 6, 2021

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