alleryStart learning →For cost-measured biological assets, what range should be given if possible?
ARange of interest rates
BRange of wage rates
CRange of likely fair values
DRange of tax slabs
Answer & Solution
Correct answer: C. Range of likely fair values
If possible the entity states the range of estimates within which fair value is highly likely to lie.
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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?