CAF-1 · Chapter 7 · Question 9 of 15
Which of the following distinguishes agricultural activity from other activities like ocean fishing or deforestation?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) The management facilitates biological transformation by enhancing or stabilizing conditions.
Explanation
A key feature of agricultural activity is the management of change, where management facilitates biological transformation. Harvesting from unmanaged sources like ocean fishing is not agricultural activity.
More IAS 41 Agriculture MCQs
- Q11Which of the following is considered a 'consumable' biological asset rather than a 'bearer' biological asset?
- Q12Under IAS 41, what is meant by the term 'harvest'?
- Q13An entity has a biological asset physically attached to land, and there is no separate market for the asset alone, but there is an active…
- Q14A government grant is received relating to a biological asset measured at cost less accumulated depreciation. Which standard governs the…
- Q15When presenting the reconciliation of changes in the carrying amount of biological assets, which of the following separate disclosures is…
