Accounting · Agricultural Accounting
In accordance with IAS 41 - Agriculture, how is a gain or loss arising from the initial recognition of a biological asset and from changes in its fair value less costs to sell recognised?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Deferred and recognised systematically over the life of the biological asset
- 2Recognised under other comprehensive income (OCI)
- 3Adjusted directly in retained earnings
- 4Included in profit or loss for the period in which it arises✓
Correct answer
Included in profit or loss for the period in which it arises
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