alleryStart learning →What does Ind AS 41 encourage in describing each group of biological assets?
AA photograph record
BQuantified description
CA farmer survey
DA weather forecast
Answer & Solution
Correct answer: B. Quantified description
A quantified description, split between consumable and bearer or mature and immature, is encouraged.
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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?