alleryStart learning →In the biological assets reconciliation, harvest is shown as what?
AAn increase from purchases
BA decrease due to harvest
CA currency difference
DA business combination
Answer & Solution
Correct answer: B. A decrease due to harvest
Harvesting removes the asset from the biological asset balance, so it appears as a separate decrease.
Keep practising Ind AS 20 Government Grants and Ind AS 41 Agriculture
Browse all Ind AS 20 Government Grants and Ind AS 41 Agriculture questions for CA Final, or explore more Financialreporting topics.
Related questions
When valuing a below-market government loan benefit, what must the entity consider?Why do income approach supporters reject crediting grants directly to equity?Which view backs the income approach as per Ind AS 20?How many broad approaches to accounting for government grants does Ind AS 20 describe?Why is information on government assistance useful to financial statement users?Why does government typically give grants according to Ind AS 20?Which grape-related step is outside Ind AS 41?Which activity is listed as agricultural activity in Ind AS 41?