At the point of harvest an entity measures fruits (agricultural produce) that it picks from its orchards (biological assets):

Related MCQs

• A biological asset used in agricultural activity whose fair value is readily determinable without undue cost or effort is accounted for using:
• …..are resources controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity.
• An entity must measure its Property, Plant and Equipment after initial recognition at,
• Total borrowings used for construction of an office building are Rs.30, 00000. Entity issued 8% debentures worth 10,00000 for this purpose and balance amount was utilized from its common pool including 10% bank loan of Rs.1000000 and 9.5% bank loan of Rs.1000000. What is the amount of borrowing cost to be capitalized?
• 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
• Which method depreciation is most appropriate for the entity to compute depreciation for the significant parts of the aircraft?
• An entity assesses inventories for impairment,
• An entity shall cease capitalizing borrowing cost when
• Cash payments to acquire the entity’s own shares (ie, treasury shares) are: