PROBLEM 1: TRUE OR FALSE I. PAS 41 Agriculture applies to all biological assets, including bearer plants. 2. PAS 41 Agriculture applies to agricultural produce after the point of harvest. 3. PAS 41 Agriculture does not apply to land used in growing agricultural produce. 4. Biological asset is living animal or plant. 5. Agricultural produce is harvested product from a biological asset before any processing. 6. PAS 41 applies to both consumable and bearer plants. 7. Agricultural productivity is the management by an entity of the biological transformation of biological assets for sale, into agricultural produce, or into additional biological assets. 8. According to PAS 41, biological assets are measured at the lower of carrying amount and fair value less costs to sell. 9. According to PAS 41, agricultural produce are initially and subsequently measured at fair value less costs to sell. 10. Costs to sell are the incremental costs directly attributable to the disposal of an asset, excluding finance costs and income taxes but including transport costs