Which of the Following Is NOT One of the Recognition

question 24

Multiple Choice

Which of the following is NOT one of the recognition criteria contained within IAS 41 in relation to recognition of a biological asset or agricultural produce as an asset?

• A) the asset has physical form
• B) the entity controls the asset as a result of past events
• C) it is probable that future economic benefits associated with the asset will flow to the entity
• D) the fair value or cost can be reliably measured

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Definitions:

Goodwill Impairment Losses

are losses recognized when the carrying amount of goodwill exceeds its recoverable amount.

Indirect NCI

Refers to a non-controlling interest in an entity that is owned through another subsidiary rather than directly.

Allocation of the Dividend

The process of distributing a portion of a company's earnings, decided by the board of directors, to its shareholders in proportion to their shareholding.

Parent

A company that holds a controlling interest in one or more subsidiaries, often by owning more than half of their stock.