Question
If the fair value of the biological asset, previously measured at cost less accumulated depreciation, becomes reliably measurable, the entity must a. Switch to the
If the fair value of the biological asset, previously measured at cost less accumulated depreciation, becomes reliably measurable, the entity must
a. Switch to the fair value less cost to sell measurement basis, the amount of adjustment taken to profit or loss.
b. Switch to the fair value less cost to sell measurement basis, the amount of adjustment taken to other comprehensive income under the heading "Unrealized Gain on Biological Assets".
c. Switch to the fair value less cost to sell measurement basis, the amount of adjustment taken as an adjustment to the beginning balance of retained earnings.
d. Continue to measure the same asset at cost less accumulated depreciation and impairment losses.
(Please insert your explanation. Thankyou)
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