Agricultural activity under the heading of Biological assets such as animals is most appropriately measured for accounting purposes at:

Question

Quizplus · Accepted Answer

Agricultural activity involving biological assets such as animals is best measured for accounting purposes at net realisable value. Net realisable value is the estimated selling price of the product that will be obtained from the biological asset, minus the estimated cost of completion and selling. This method provides a more accurate figure of the true value of the asset and is therefore considered the most appropriate for this type of activity.

Agricultural Activity Under the Heading of Biological Assets Such as Animals