CAF-1 · Chapter 7 · Question 15 of 15
When presenting the reconciliation of changes in the carrying amount of biological assets, which of the following separate disclosures is encouraged but NOT strictly required?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Separate disclosure of the change in fair value due to physical change and due to price change.
Explanation
While the total gain or loss from fair value changes must be disclosed, IAS 41 states that separate disclosure of physical change and price change is encouraged but not required.
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