Which of the following assets held by an enterprise would not qualify as investment in property as defined by PAS 40, Investment property? Land for sale in the ordinary course of business Land held for capital appreciation Land held for undetermined future use Building held to earn rentals
Which of the following assets held by an enterprise would not qualify as investment in property as defined by PAS 40, Investment property? Land for sale in the ordinary course of business Land held for capital appreciation Land held for undetermined future use Building held to earn rentals
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following assets held by an enterprise would not qualify as investment in property as defined by PAS 40, Investment property?
Land for sale in the ordinary course of business
Land held for capital appreciation
Land held for undetermined future use
Building held to earn rentals
Which of the following is included in the definition by PAS 20 of government grants?
I. Transfer of resources to an entity in return for past or future compliance with certain conditions.
II. Transactions with the government that cannot be distinguished from the normal trading transactions of the entity.
I. Transfer of resources to an entity in return for past or future compliance with certain conditions.
II. Transactions with the government that cannot be distinguished from the normal trading transactions of the entity.
II only
I only
Both I and II
Neither I and II
Which of the following would result in a Dr to AR ?
Sale of goods under " special order" "Special order is yet to be completed"
Sale of goods classified as Trade
Sale of goods under "Consignment"
Sale with a right of repurchase
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