Which of the Following Is NOT a Reason as to Why

question 28

Multiple Choice

Which of the following is NOT a reason as to why the IASC felt that agriculture was an industry that needed its own industry specific standard?

• A) the specific exclusion of assets related to agricultural activity from other standards
• B) agriculture was considered to be an emerging industry at that time
• C) accounting guidelines for agricultural activity previously developed by national standard setters had been piecemeal
• D) the nature of agricultural activity had created uncertainty or conflicts when applying traditional accounting models

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Definitions:

Discrepancy

A lack of compatibility or agreement between two or more facts, figures, or perceptions.

Expertise

Exceptional skill or knowledge in a particular field or area, acquired through training, study, or practice.

Urban Farmer

An individual who engages in agriculture or farming practices within a city or urban area, often focusing on the cultivation of fruits, vegetables, and other produce in small or limited spaces.

Community Garden

Public plots of land used collectively by people of a community for growing plants and vegetables, often enhancing social ties and local food security.