AASB 141/IAS 41 Requires That Biological Assets Be Measured on Initial

question 29

Multiple Choice

AASB 141/IAS 41 requires that biological assets be measured on initial recognition and at the end of each reporting period:

• A) at fair value less costs to sell.
• B) at fair value less costs to sell at the point of harvest.
• C) at fair value less estimated costs to sell at the point of harvest.
• D) at fair value less costs to sell, except where the fair value cannot be measured reliably.

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Relevant Examples

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