AASB 141 Excludes Certain Biological Assets from Its Scope

question 60

Multiple Choice

AASB 141 excludes certain biological assets from its scope.To be included:

• A) the living animal or plant must be capable of earning revenue.
• B) the asset must be alive and may include organisms such as viruses.
• C) the living animal or plant must be used in a commercial venture.
• D) the living animal or plant may only be used within an agricultural activity.

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Definitions:

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