State whether the following are (a) biological assets, (b) agricultural produce or (c) products that are as
Question:
1. Living pigs
2. Living sheep
3. Pigs' carcasses
4. Pork sausages
5. Trees growing in a plantation forest
6. Furniture
7. Olive trees
8. Olives
9. Olive oil
10. Vines growing in a vineyard.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (12 reviews)
Biological assets are defined in IAS 41 paragraph 5 as a living animal or plant Agricultural produce ...View the full answer
Answered By
Antony Sang
I am a research and academic writer whose work is outstanding. I always have my customer's interests at heart. Time is an important factor in our day to day life so I am always time conscious. Plagiarism has never been my thing whatsoever. I give best Research Papers, Computer science and IT papers, Lab reports, Law, programming, Term papers, English and literature, History, Math, Accounting, Business Studies, Finance, Economics, Business Management, Chemistry, Biology, Physics, Anthropology, Sociology, Psychology, Nutrition, Creative Writing, Health Care, Nursing, and Articles.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Applying International Financial Reporting Standards
ISBN: 978-0730302124
3rd edition
Authors: Keith Alfredson, Ken Leo, Ruth Picker, Paul Pacter, Jennie Radford Victoria Wise
Question Posted:
Students also viewed these Accounting questions
-
State whether the following are true or false, and briefly explain why: a. Companies spend billions of dollars advertising their products on network TV primarily because the texts of their...
-
State whether the following are primarily microeconomic or macroeconomic policy issues: a. Should U.S. interest rates be lowered to decrease the amount of unemployment? b. Will the fact that more and...
-
State whether the following sentences are true or false regarding the nature of fiduciary- type funds and the accounting measurements within them. If the sentence is false, state why. 1. Governments...
-
The reconciling item in a bank reconciliation that will result in an adjusting entry by the depositor is: (a) outstanding checks. (b) deposit in transit. (c) a bank error. (d) bank service charges.
-
The comparative financial statements of Lakeland Pools, Inc., for 2013, 2012, and 2011 included the following select data: Requirements 1. Compute these ratios for 2013 and 2012: a. Current ratio b....
-
What effect did the expansion have on sales and net income? What effect did the expansion have on the asset side of the balance sheet? What effect did it have on liabilities and equity?
-
Use the normal distribution in Exercise 13. (a) What percent of the SAT total scores are less than 1200? (b) Out of 500 randomly selected SAT total scores, about how many would you expect to be...
-
Carleton Closures, Inc., manufactures clamps used in the overhead bin latches of several leading airplane models. Greg Poole, president of Carleton Closures, Inc., has gathered the following cost...
-
Oscillations of a carbon monoxide (CO) molecule can be modeled with a harmonic oscillator. What is the size of energy of the harmonic oscillator at ground state when a CO molecule absorbs radiation...
-
Exhibits 1.191.21 of Integrative Case 1.1 (Chapter 1) present the financial statements for Walmart for 20122015. In addition, the website for this text contains Walmarts December 31, 2015, Form 10-K....
-
Which of the following is included in determining the fair value of a biological asset that does not have an active market and which has a 5 year production cycle? 1. Revenue from sale in 5 years'...
-
State whether each of the following is true or false: 1. Companies applying IAS 41 must disclose separately the fair value (less costs to sell ) of mature and immature biological assets. 2. A lessee...
-
Define and describe two measures to assess raw materials inventory management.
-
Imagine that you need to create documents to help parents of children with cancer learn about a new treatment. Brainstorm the range of emotions parents might feel in such situations, and develop...
-
Gather the paper documents and the printouts of the website you collected from the nonprofit agency. Lay out the document set on a large table, side by side: paper and online documents. Assess the...
-
In the planning stage, how does a technical communicator read and understand engineering specifications or programming requirements without being an expert in the field? How does a technical...
-
Choose a location on your campus or in your town that has importance for the community. (The location could be important because of a historical incident, for example, or because it is a popular...
-
Go to the user forum for the Ubuntu operating system (http://www.ubuntuforum.org) and browse through several topics, particularly under the "Main Support Categories" heading. How does the...
-
Phoebe Company borrowed $100,000 at 8 percent interest for three months. How much interest does the company owe at the end of three months? a. $8,000 b. $2,000 c. $800 d. $200
-
Imagine a sound wave with a frequency of 1.10 kHz propagating with a speed of 330 m/s. Determine the phase difference in radians between any two points on the wave separated by 10.0 cm.
-
Should foreign companies seeking to issue securities in the United States be required to disclose as much as U.S. companies issuing securities in the United States? Critically evaluate the arguments...
-
What is the difference between voluntary disclosure and mandatory disclosure? Provide at least two explanations for the differences in managers voluntary disclosure practices. Provide at least two...
-
What is triple-bottom-line reporting, and why is it a growing trend among large multinational corporations? There are now few requirements for this type of reporting. Is more regulation necessary?...
-
How do advanced scenario planning methodologies, such as probabilistic forecasting, sensitivity analysis, and scenario stress-testing, inform the development of robust, adaptive visions that are...
-
How can leaders sustain momentum and relevance around visionary visions amidst evolving external environments, internal dynamics, and competing priorities, fostering adaptability, resilience, and...
-
Let U = {1, 2, 3, 4, 5, 6, 7, 8, 9, 10}, A = {1, 3, 5, 7, 9}, B = {2, 4, 6, 8, 10}, and C = {1, 2, 4, 5, 8, 9}. List the elements of each set. (a) CC c (b) ( A C ) c (c) A ( B C )
Study smarter with the SolutionInn App