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How should great ocean farm classify

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Question - Great Ocean Farm operates a large scale rose farm. They sell rose buds to companies producing high quality herbal tea. They also supply fresh rose flowers to skin care products companies.

Required -

a. Would Great Ocean Farm's rose plants be considered as "bearer plant" according to AASB 141 Agriculture? Explain.

b. How should Great Ocean Farm classify and account for rose plants and harvested rose buds and rose flowers? Explain.

Reference no: EM132563762

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