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:

Sexual Selection Model

A theoretical construct that explains how certain traits are favored because they increase an individual's chances of reproductive success.

Direct Benefits

Advantages that directly affect an individual's survival or reproduction, typically gained through mate choice or specific behaviors.

Indirect Benefit

Advantages gained by an individual from choosing a particular mate that affect the genetic quality of their offspring rather than providing immediate gains.

Sexual Selection

A process of natural selection where traits that increase an individual's chance of mating and reproductive success are favored and become more common in a population.