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Problem 1: Which of the following is accounted for under PAS 41?
a) bearer plants
b) bearer animals
c) government grants related to biological assets measured at cost
d) plants used in landscaping
Problem 2: Which of the following is most likely an acceptable measurement for agricultural produce.
Initial measurement Subsequent measurement
a) fair value less cost to sell a) cost
b) fair value less cost to sell b) lower of cost and Net Realizable Value
c) fair value c) lower of cost and FV less cost to sell
d) fair value less cost to sell d) fair value less cost to sell
What is the normal balance of the account Premium on Bonds Payable? Is it added to or subtracted from the Bonds Payable account to determine the carrying amount
xyz company produces three products a b and c. xyzs plant capacity is limited to 200000 machine hours per year. the
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Evaluate the policy of writing off all intangible assets over twenty years. Write a memorandum to your financial director
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