AASB 141 Excludes Certain Biological Assets from Its Scope

question 10

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.
• E) The living animal or plant must be capable of earning revenue and the living animal or plant must be used in a commercial venture.

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