Identify whether IAS 41 applies to the following items (i.e., arc they used in or do they
Question:
Transcribed Image Text:
Related activity involves active management Yes/No) Item relates to activity up to and including point of harvest (Yes/No) IAS 41 applies (Yes/No) Item i. Tuna fish in the ocean ii. Farmed salmon i. Wheat iv. Potted tropical plants in nursery v. Cattle used in breeding
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (17 reviews)
According to IAS 41 an agricultural activity both i ...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Identify whether IAS 41 applies to the following items (i.e., are they used in or do they directly result from agricultural activities?). Related activity involves active management (Yes/No) Item...
-
Identify whether IAS 40 applies to the following items. In other words, are they investment properties? While there is some amount of judgment depending on the circumstances, consider the most...
-
Wie Company has been operating for just 2 years, producing specialty golf equipment for women golfers. To date, the company has been able to finance its successful operations with investments from...
-
Draw a topology on paper that will show the connection between home network and College (LAN) using conventional symbols used in networking? (10) Home Network: 1 connecting device 1 Wireless devices...
-
You are provided with the following information for Gobler Inc. Gobler Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,000 liters at a cost...
-
A firm is considering replacing a machine that has been used to make a certain kind of packaging material. The new, improved machine will cost $31,000 installed and will have an estimated economic...
-
What is a PMB?
-
The Ashton Furniture Company manufactures coffee tables and chest of drawers. Last year the companys cost of goods sold was $3,700,000, and it carried inventory of oak, pine, stains, joiners, and...
-
XYZ Corp is a retail seller of grocery store products located in Chicago. These products ranged from food items (both fully cooked to raw food ingredients) to cookware. One-third of its customers are...
-
What is the optimum portfolio assuming short sales if RF = 5% and the data from Problem 1 are used? In Problem 1 2, 0 0 0 0 0 0 0|324121 t-050805 112011 521894 123456
-
Consider the list of items in the previous problem (P9-27). In problem (p9-27) Required: Classify each item as a biological asset, agricultural produce, or neither. Related activity involves active...
-
Below are several events and/or transactions. a. Paid the government S3,000,000 for the right to broadcast on a certain frequency for five years. b. Paid legal fees of $6,000,000 to successfully...
-
Manually apply the Hungarian algorithm (perhaps using the corresponding interactive procedure in your IOR Tutorial) to solve the assignment problem having the following cost table: 4-5647 3-5564...
-
Off-balance sheet finance is one example of information which would never come to the attention of the users of financial statements but for the concern of some auditors. Make a list of other types...
-
Advantages of relational data models generally include a. reduced information redundancy. b. low cost. c. ease of implementation. d. efficiency.
-
Upon signing a lease agreement, Miss Olivia received a one-time payment of $3,000. One year later because the oil company had not yet drilled a well, Miss Olivia received a payment of $200. During...
-
The following costs incurred by the exploration department of Matrix Energy Corporation during 2018. REQUIRED: Give the entries to record these transactions. Shooting rights.... Bottom-hole...
-
Williams Oil Company purchased seismic equipment costing $100,000 on January 1, 2018. The equipment was used in G&G operations for the calendar year 2018. The equipment has an estimated life of 10...
-
Determine George and Marys taxable income and tax liability for 2019 if George has $65,000 and Mary has $45,000 of salary income, they have $20,000 of allowable itemized deductions, no dependents,...
-
Distinguish among total-moisture content, free-moisture content, equilibrium-moisture content, unbound moisture, and bound moisture.
-
What are some of the major challenges facing the accounting profession?
-
What are some of the major challenges facing the accounting profession?
-
What are some of the major challenges facing the accounting profession?
-
A) Translate the following C into RV641 assembly. Be sure to follow the calling (Refer to slide22 of lec6_postZoom.pdf) and comment each line of your assembly. Remember that long long is 64 bits in...
-
Given a Binary Tree, find the maximum sum path from a leaf to root. Input: 1 A Input: 10 -27 4 23 Output: Explanation Following the path 3-1, results in a sum of 4, which is the maximum path sum from...
-
On December 1 , 2 0 1 5 , your company pays $ 2 4 , 0 0 0 for rent on your store that covers the next 6 months. When you paid the cash, you debited Prepaid Rent.. The adjusting journal entry on...
Study smarter with the SolutionInn App