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Which shall be property classified as a current asset

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Reference no: EM132773068

Problem 1: Which of the following shall be property classified as a current asset?

a. Biological asset

b. Investment property

c. Both a and b

d. Neither a nor b

Problem 2: If the fair value less cost to sell of biological asset is not available, what is its subsequent measurement?

a. Present value

b. Recoverable amount

c. Historical cost less accumulated depreciation less accumulated impairment

d. Value in use

Reference no: EM132773068

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