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Which is not a major characteristic of a ppe

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Reference no: EM132983166

Problem 1: Animals related to recreational activities are accounted for under what standards?

a) IAS 41 - Agriculture

b) IAS 16 - Property, Plant, and Equipment

c) IAS 40 - Investment Property

d) Either IAS 41 or IAS 16

Problem 2: Which of these is not a major characteristic of a PPE?

a) Possesses physical substance.

b) Acquired for use in operations.

c) Yields services over a number of years.

d) All of these are major characteristics of a PPE.

Problem 3: Which of the following is considered a biological asset?

a) Carcass

b) Ham

c) Pig

d) Piggybank

Reference no: EM132983166

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