Reference no: EM132765932

Problem 1: Which of the following information should be disclosed in relation to agriculture?

a) Separate disclosure of the gain or loss relating to biological assets and agricultural produce.

b) The aggregate gain or loss arising on the initial recognition of biological assets and agricultural produce and from the change in fair value less cost of disposal of biological assets.

c) The total gain or loss from biological assets and agricultural produce

d) There is no requirement to disclose separately any gain or loss

Problem 2:  A bank reconciliation is prepared monthly in order for the enterprise to

a) Arrive at the correct cash balance

b) Unearth any undetected cash fraud

c) Correct bank errors

d) Correct book errors