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CA Final · Financial Reporting · Ind AS 41 Agriculture

Which of the following is NOT identified in the Appendix comparing Ind AS 41 with IAS 41 as a difference between the two standards?

The measurement difference is not listed. The comparison appendix records only terminology changes, such as 'balance sheet' and 'Statement of profit and loss', and the omission of paragraphs 58-63. It identifies no change to the measurement basis of biological assets in Ind AS 41.

  1. AUse of the term 'balance sheet' instead of 'statement of financial position'
  2. BUse of 'Statement of profit and loss' instead of 'statement of profit or loss and other comprehensive income'
  3. CExclusion of paragraphs 58-63 relating to effective date and transition
  4. DMeasurement of biological assets at cost instead of fair value less costs to sell in Ind AS 41Correct

Explanation

The appendix lists differences in terminology and the exclusion of paragraphs 58-63. It does not state any difference in measurement basis, so the cost measurement option is not a listed difference. The other three are listed differences.

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