A biological asset used in agricultural activity whose fair value is readily determinable without undue cost or effort is accounted for using:

Related MCQs

• Carrying amount of an asset as on 1st April 2015 is Rs. 1500000 and depreciation for the year 2015 – 2016 is 15000. Fair value of the asset less cost of disposal as on 31 March 2016 is Rs. 120000. Which of the following is the carrying amount at 1st April 2106?
• The cost of intangible asset at initial recognition is measured at its fair value when,
• At the point of harvest an entity measures fruits (agricultural produce) that it picks from its orchards (biological assets):
• When the recoverable amount of an asset is less than its carrying value in the statement of financial position, the asset is said to be
• Finance leases are accounted for in a similar manner to:
• Present value of expected future cash flows generated by an asset, plus its expected disposal value is called.
• Adjustment of the carrying amount of an asset or liability or the consumption of an asset is defined as,
• Original cost at which asset or liability is acquired is known as ..
• Land related to agricultural activities is coming under the scope of Ind AS….
• …………….is the residual interest in the asset of an entity after deducting all liabilities