Accounting · Agricultural Accounting
How is a gain or loss arising on initial recognition or change in fair value of a biological asset recognised in accordance with IAS 41 Agriculture?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Deferred and recognised over the life of the asset
- 2Shown under 'Other Comprehensive Income'
- 3Adjusted directly in retained earnings
- 4Included in profit or loss for the period✓
Correct answer
Included in profit or loss for the period
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