When Determining the Fair Value of Biological Assets and There

question 1

Multiple Choice

When determining the fair value of biological assets and there is no market price for that asset in its present condition AASB 141 requires that:

• A) the entity uses the present value of expected net cash flows from the asset discounted at a current market-determined pre-tax rate.
• B) the entity measure the asset at cost.
• C) the entity uses the contract prices for recent sales of similar assets adjusted for the effects of biological transformation.
• D) the entity uses sector benchmarks.

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Definitions:

Major Depressive Disorder

A mental disorder characterized by a persistent and intense feeling of sadness or despair and a lack of interest in activities, significantly impairing daily functioning.

Symptoms

Observable signs or indicators of a disease, disorder, or condition, often reported by the patient.

Psychological Disorders

Conditions characterized by abnormal thoughts, feelings, or behaviors that cause distress or impairment in functioning.

Hypothesized Etiologies

Theoretical causes or origins of diseases or disorders, often used in the context of medical research before definitive evidence is found.