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Question		Answer
Biological asset definition. start learning		'living plant or animal'
Agricultural produce definition start learning		'harvested product of the entity's biological assets'
Biological assets are initially measured at...? start learning		at FV less estimated costs to sell.
At each reporting date, biological assets are revalued to ...? start learning		to FV less costs to sell.
At the date of harvest, agricultural produce should be recognised and measured at ...? start learning		at FV less estimated cost to sell.
At the date of harvest, agricultural produce is measured at FV less estimated costs to sell. It is then accounted for under IAS...? start learning		under IAS 2 Inventories.
Inventories definition. start learning		Assets that the entity sells in ordinary course of business. (plus any raw materials and WIPs).
Inventories are measured at ...? IAS: Inventories. start learning		'the lower of cost and NRV' Cost includes the purchase price and any other directly attributable costs. \| NRV is the expected selling price, less estimated costs of completion and sale.

6 - Agriculture and Inventories