The 'Agriculture' (Ind AS 41) requires biological assets to be measured at: MCQ with Answer and Explanation

Explanation:
Life membership fees are generally treated as capital receipt and transferred to a fund, not income.

Explanation:
A person who by his conduct or words allows others to believe he is a partner may be held liable as partner by estoppel or holding out.

Explanation:
Depreciation is charged to the Profit and Loss Account but does not involve any cash outflow, making it a non-cash expense. It is also credited to the Provision for Depreciation or Asset account, reducing its book value. Both are correct.