Question 11. Which one of the following does not meet the definition of investment property included...

Question 11. Which one of the following does not meet the definition of investment property included within IAS 40?

Land currently held for an undetermined use

A building owned by and leased out under an operating lease

A building that is vacant but is held to be leased out

Accommodation that is rented to staff members

Expert Solution

Answer -

Accommodation that is rented to staff members - does not meet the defination of Investment Property.

According to IAS 40 - Investment Property -

Investment property includes Land or Building or both. Investment property is held by the company for rentals purpose or Capital Appreciation or there could be both the purpose.

Investment property is held at the cost by the company or some times at fair value.

IAS 40 has defined what could be the termed as investment property which are as follows -

1. Land currently held for an undetermined use - Termed as Investment Property

2. A building owned by and leased out under an operating lease - Termed as Investment Property

3. A building that is vacant but is held to be leased out - Termed as Investment Property

According to IAS 40 below are properties can not be termed as Investment Property -

4. Accommodation that is rented to staff members

ekkarill92 answered 2 years ago

1.Which of the following would not be included in an economist's definition of investment spending? a...

1.Which of the following would not be included in an economist's definition of investment spending? a the purchase of robots by Motor Magic Manufacturing b the construction of a new office building by the Mountain City Real Estate Company c the purchase of General Motors stock by Donald Trump d the purchase of a new pizza oven by H and R Pizza e an unexpected rise in inventories at Randle Manufacturing 2. A decrease in the demand for peanut butter...

1. Which of the following is included in a definition of health? a. all of these...

1. Which of the following is included in a definition of health? a. all of these are correct b. the absence of illness c.the presence of well being d. the presence of social capabilities 2. In which field were the first evaluations done? a. education b. public health c. nursing d. psychology 3.The distinguishing difference between outcome and impact evaluations is the _________________ between intervention and the effect. 4. True or False? A paradox in health program planning is that...

11. Which one of the following transactions would be included in GDP? a. Adam pays $50...

11. Which one of the following transactions would be included in GDP? a. Adam pays $50 for a used blender at a neighborhood garage sale. b. Elisa donates $500 to the Southwestern College scholarship fund. c. Emma pays $500 to fix a damaged tail light on her car. d. Mark pays $5,000 to purchase 100 shares of McDonald’s stock. 12. An RV firm purchases $425,000 worth of raw materials and buys $275,000 of used materials and stock dividends of $150,000,...

1. Which of the following statements is correct? a) Money is not included in the definition...

1. Which of the following statements is correct? a) Money is not included in the definition of property regarding §351 transaction. b) Companies can choose to recognize gain or loss even though the requirements under §351 are met. c) §351 transaction applies to partnership. d) A shareholder who receives a boot under §351 must recognize the loss immediately. e) None of the choices are true. 2. Francine incorporated her sole proprietorship by transferring property to the corporation in return for...

QUESTION 1 In order to meet generally accepted definition of whistleblowing the following aspects must be...

QUESTION 1 In order to meet generally accepted definition of whistleblowing the following aspects must be in place. I. An illegal or fraudulent act must be reported by any person and reported to someone in the position to help resolve the situation. II. None of the above III. An illegal or fraudulent act must be reported by a victim and reported to the regulatory body. IV. An illegal or fraudulent act must be reported by any person and must reported...

Question 52 pts In which of the following forms of joint ownership of real property, does...

Question 52 pts In which of the following forms of joint ownership of real property, does a deceased tenant's interest automatically pass to the surviving tenant(s)? condominium community property joint tenancy tenancy in common Flag this Question Question 62 pts A(n) ___________ deed contains the greatest number of warranties and provides the highest level of protection to the grantee. unrecorded special warranty general warranty quitclaim Flag this Question Question 72 pts A homeowners policy includes coverage for the risks covered...

1. Which of the following would not be included in the Land account? A.back property taxes...

1. Which of the following would not be included in the Land account? A.back property taxes paid B.brokerage commissions connected with the purchase of the land C.paving costs for a driveway D.survey fees connected with the purchase of the land 2.Which of the following expenses is most closely associated with tangible longminus−lived assets? A.depletion B.interest C.accumulation D.depreciation 3.Which of the following statements is true? A.Depreciation means that a business sets aside cash to replace assets as they become fully amortized....

Which of the following is not one of the ethical standards included in the Institute of...

Which of the following is not one of the ethical standards included in the Institute of Management Accountants (IMA) Statement of Ethical Professional Practice? Objectivity. Integrity. Competence. Credibility. Confidentiality.

Which of the following does not have to be included in a covered entity’s notice of...

Which of the following does not have to be included in a covered entity’s notice of privacy practices? Incorrect: Description of all the other purposes for which a covered entity is permitted or required to disclose PHI without consent or authorization Correct: Signature of the patient and date the notice was given to the patient The __________ is a component of ICD-10-CM. Incorrect: Appendix of Mental Disorders Correct Answer: Index to External Causes Which of the following entities owns the...

Which one of the following is classified as both personal property and personal-use property? Select one:...

Which one of the following is classified as both personal property and personal-use property? Select one: a. Thomas owned a computer which he used only to trade stocks and bonds and manage his investments. b. Shiela owned a storage building used by her to store her personal records. c. Wamco Company used a computer that was only used to email Wamco employees regarding company business d. Shiela owned a computer that she used to prepare her own tax returns. e....

Question