Which of the following is an investment property? Property that is currently being redeveloped to be sold in the ordinary course of business operations. Property that is currently being developed for future use as owner-occupied. Property that is leased out to another entity under a finance lease Building rented out in an operating lease wh

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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  1. Which of the following is an investment property?
    1. Property that is currently being redeveloped to be sold in the ordinary course of business operations.
    2. Property that is currently being developed for future use as owner-occupied.
    3. Property that is leased out to another entity under a finance lease
    4. Building rented out in an operating lease whereby the owner provides minimal services.

 

  1. Which of the following assets may be classified as investment property?
    1. Land                                     Building
    2. Equipment                         Land and Building only
    3. Intangible asset

             

  1. If ancillary services provided to occupants of a property held are <List A>, the property is classified as <List B>

      A 

 

 

            B

a. significant

 

 

investment property

b. insignificant

 

 

property, plant and equipment (PPE)

c. significant

 

 

allocated to investment property and PPE

d. insignificant

 

 

investment property

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