Solution-Which biological assets should be measured using

Which biological assets should be measured using

Reference no: EM132765890

Problem 1: Generally speaking, biological assets should be measured using

a) Historical cost
b) Historical cost less depreciation less impairment
c) A fair value approach
d) Net realizable value

Problem 2: A company, which has total assets of P10,000,000 and periodic net income of P9,000,000, purchases staplers with an estimated life of 10 years for P200. In connection with the purchase, the company debits miscellaneous expense. This scenario is most closely associated with which of the following concepts or principles?

a) Materiality and going concern
b) Relevance and neutrality
c) Reliability and comparability/consistency
d) Materiality and cost-benefit tradeoff

Reference no: EM132765890

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Which biological assets should be measured using

Reference no: EM132765890

Reference no: EM132765890

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