1-Change in fair value of the biological assetsbetween the beginning balance and endingbalance should be classified to:a. price change and physical changeb. price change and quality changec. price change and quantity changed. quantity change and quality change2-which of the following would not bemeasured at fair value less expenses to sell:a. herd of sheepb. wheat and maizeC. apples were detached today from the treed. cheese that was produced from milk cow3-the basis that we use to prepare the fourfinancial statements is/are:a. cash basisb. both accrual and cash basisc. fund basisd. accrual basis4-price change and physical changes of fairvalue must appear respectively in:a. income statement and othercomprehensive incomeb. other comprehensive income and incomestatementc. income statement and retained earningsstatementd. income statement and income statement

1. Biological assets - Those living plant or animal, owner of which is a business it termed as…

1-Change in fair value of the biological assets between the beginning balance and ending balance should be classified to: a. price change and physical change p. price change and quality change c. price change and quantity change d. quantity change and quality change

1-Change in fair value of the biological assets between the beginning balance and ending balance should be classified to: a. price change and physical change p. price change and quality change c. price change and quantity change d. quantity change and quality change

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter8: Investing Activities

Section: Chapter Questions

Problem 1.1CIC

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