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Which of the following would be considered an investment property under IFRS? Question 6 options: a) A company owns land that it plans to hold for at least 10 years because management feels that the property will increase in value. b) A company is constructing an office tower, which it plans to occupy in the future for the purpose of housing its operations. c) A building that is fully occupied by the company that owns it. d) A company owns a hotel and its surrounding land, and provides housekeeping, recreation, and maintenance services.

Which of the following would be considered an investment property under IFRS? Question 6 options: a) A company owns land that it plans to hold for at least 10 years because management feels that the property will increase in value. b) A company is constructing an office tower, which it plans to occupy in the future for the purpose of housing its operations. c) A building that is fully occupied by the company that owns it. d) A company owns a hotel and its surrounding land, and provides housekeeping, recreation, and maintenance services.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following would be considered an investment property under IFRS?
 
Question 6 options:
 

a) 

 A company owns land that it plans to hold for at least 10 years because management feels that the property will increase in value.
 

b) 

 A company is constructing an office tower, which it plans to occupy in the future for the purpose of housing its operations.
 

c) 

 A building that is fully occupied by the company that owns it.
 

d) 

 A company owns a hotel and its surrounding land, and provides housekeeping, recreation, and maintenance services.
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