Explain the Meaning of Biological Assets and Agricultural Produce

question 70

Essay

Explain the meaning of biological assets and agricultural produce. Classify each of the following items as: biological asset, agricultural produce, or neither.
$$\begin{array} { | c | l | c | c | c | } \hline &\text { Item } & \text { Biological asset } & \begin{array} { c } \text { Agricultural } \\\text { produce }\end{array} & \text { Neither } \\\hline \text { i. }&\text { Salmon in the ocean } & & & \\\hline \text { i. }&\text { Farmed salmon } & & & \\\hline \text { iii. } & \text { Wheat } & & & \\\hline \text { iv. }& \text { Potted tropical plants in nursery } & & & \\\hline \text { v. } &\text { Cattle used in breeding } & & & \\\hline\end{array}$$

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Definitions:

Wrongdoing

An act or behavior that is illegal or immoral.

Illegal

Refers to actions that are prohibited by law or unauthorized by legal authority.

Regulatory

Pertaining to the process of establishing and enforcing rules and standards by government or organizational authorities.

Michigan Licensing Requirements

refers to the specific qualifications and criteria set by the state of Michigan for the issuance of professional licenses.