Use the Following Information to Answer Questions
Cow Co

question 30

Multiple Choice

Use the following information to answer questions
Cow Co. is a company that farms dairy cattle. Cow Co. owns the farmland on which the cattle are located, having purchased it for £1.5 million in 2013. The land is measured at cost under IAS 16.
Details of cattle at 30 June 2015 were as follows:
$\begin{array}{lcc}&\text { Cows } & \text { Heifers } \\\text { Number }&900 & 200 \\\text { Fair value (less estimated costs to sell) }&£ 800 & £ 320\end{array}$ During the year ended 30 June 2016 the following occurred:
$\bullet$ 200 new cows were purchased at £810 each
$\bullet$ 50 heifers matured into cows
$\bullet$ 5 heifers died
$\bullet$ 100 cows were sold for £830 each
$\bullet$ The price change between a heifer and a cow at the time of maturity during the year was estimated to be £500
The following is relevant at 30 June 2016:
$\bullet$ The land has been valued at £5.6 million
$\bullet$ Fair value less estimated costs to sell are as follows (Cow Co. has determined that these are the appropriate fair values to use for the purposes of transfers and deaths of heifers) :
o Cows - £850 /head
o Heifers - £350/head
-The fair value of cows as at 30 June 2016 is:

• A) £943 250
• B) £892 500
• C) £875 000
• D) £816 500

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Definitions:

Conservation

The understanding in child development that quantity does not change despite changes in form or appearance, also applies to environmental preservation efforts.

Assimilation

Assimilation refers to the cognitive process of integrating new information into existing frameworks or schemas.

Authoritative Style

A parenting approach characterized by high responsiveness and high demands, aiming to foster independence while maintaining limits and control.

Egocentric

The inability to differentiate one's personal perspective from someone else's.