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Explain the Meaning of Biological Assets and Agricultural Produce

Question 107

Essay

Explain the meaning of biological assets and agricultural produce. Classify each of the following items as: biological asset, agricultural produce, or neither.
 Item  Biological asset  Agricultural  produce  Neither  i.  Salmon in the ocean  i.  Farmed salmon  iii.  Wheat  iv.  Potted tropical plants in nursery  v.  Cattle used in breeding \begin{array} { | c | l | c | c | c | } \hline &\text { Item } & \text { Biological asset } & \begin{array} { c } \text { Agricultural } \\\text { produce }\end{array} & \text { Neither } \\\hline \text { i. }&\text { Salmon in the ocean } & & & \\\hline \text { i. }&\text { Farmed salmon } & & & \\\hline \text { iii. } & \text { Wheat } & & & \\\hline \text { iv. }& \text { Potted tropical plants in nursery } & & & \\\hline \text { v. } &\text { Cattle used in breeding } & & & \\\hline\end{array}

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Biological assets are living plants and ...

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