IAS 2 on Inventories Does Not Apply To

question 9

Multiple Choice

IAS 2 on inventories does not apply to:

• A)trees held for sale as part of forestry operations.
• B)work-in-progress under construction contracts.
• C)agricultural produce of a biological asset.
• D)any of the given answers.

---

Definitions:

Selective Breeding

The process of breeding plants or animals for specific genetic traits, aiming to produce offspring with desirable characteristics.

Fraternal Twin

Siblings who are born at the same time but developed from two separate eggs fertilized by two different sperm, genetically similar as typical siblings.

Range of Reaction

The concept that an individual’s genetic makeup establishes the range of possible responses to different environmental qualities.

Epigenetics

The study of changes in organism caused by modification of gene expression rather than alteration of the genetic code itself.