Question
a) Explain how the concept of biological asset is different from bearer plant. Give one (1) example to clarify your answer. b) Elaborate the THREE
a) Explain how the concept of biological asset is different from bearer plant. Give one (1) example to clarify your answer. b) Elaborate the THREE (3) common features of agricultural activity as outlined by MFRS141 Agriculture. Illustrate your answer with an example. c) Discuss whether the following activities fall within the scope of MFRS141 Agriculture: i) Planting banana trees for banana fruits produce. yes ii) Planting rose tree for the rose flowers. yes iii) Poultry farming for the eggs produce. yes iv) Squid fishing in the open ocean. no v) Rearing cattle for beef production. yes d) The application of MFRS141 Agriculture has raised several issues and concerns among the preparers of financial statements. Discuss.
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