100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
IAS 40 (Investment Property) Exam Questions & Answers 2024/2025 $10.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. IAS 40
  4.  
  5. IAS 40

Exam (elaborations)

IAS 40 (Investment Property) Exam Questions & Answers 2024/2025
 0 purchase
  • Course
  • IAS 40
  • Institution
  • IAS 40

IAS 40 (Investment Property) Exam Questions & Answers 2024/2025 True - ANSWERSThe objective of this Standard is to prescribe the accounting treatment for investment property and related disclosure requirements. par. 1 True - ANSWERSThis Standard shall be applied in the recognition, measu...

[Show more]

Preview 3 out of 22  pages

Document information

  • September 7, 2024
  • 22
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ias 40 investment property exam questions answ

Written for

  • IAS 40
  • IAS 40

Seller

avatar-seller
Bensuda

Reviews received

Content preview

IAS 40 (Investment Property) Exam
Questions & Answers 2024/2025

True - ANSWERSThe objective of this Standard is to prescribe the accounting treatment for investment
property and related disclosure requirements.



par. 1



True - ANSWERSThis Standard shall be applied in the recognition, measurement and disclosure of
investment property.



par. 2



False - ANSWERSThis Standard applies to:

(a) biological assets related to agricultural activity (see IAS 41 Agriculture and IAS 16 Property, Plant and
Equipment); and

(b) mineral rights and mineral reserves such as oil, natural gas and similar non-regenerative resources.



par. 4



True - ANSWERSCarrying amount is the amount at which an asset is recognised in the statement of
financial position.



par. 5



False - ANSWERSFair value is the amount of cash or cash equivalents paid or the fair value of other
consideration given to acquire an asset at the time of its acquisition or construction or, where applicable,
the amount attributed to that asset when initially recognised in accordance with the specific
requirements of other IFRSs, eg IFRS 2 Share-based Payment.

,par. 5



False - ANSWERSCost is the price that would be received to sell an asset or paid to transfer a liability in
an orderly transaction between market participants at the measurement date. (See IFRS 13 Fair Value
Measurement).



par. 5



True - ANSWERSInvestment property is property (land or a building—or part of a building— or both) held
(by the owner or by the lessee as a right-of-use asset) to earn rentals or for capital appreciation or both,
rather than for:

(a) use in the production or supply of goods or services or for administrative purposes; or

(b) sale in the ordinary course of business.



par. 5



False - ANSWERSOwner-occupied property is property held (by the owner or by the lessee as a right-of-
use asset) not for use in the production or supply of goods or services or for administrative purposes.



par. 5



True - ANSWERSInvestment property is held to earn rentals or for capital appreciation or both.
Therefore, an investment property generates cash flows largely independently of the other assets held
by an entity. This distinguishes investment property from owner-occupied property. The production or
supply of goods or services (or the use of property for administrative purposes) generates cash flows
that are attributable not only to property, but also to other assets used in the production or supply
process. IAS 16 applies to owned owner-occupied property and IFRS 16 Leases applies to owner-
occupied property held by a lessee as a right-of-use asset.



par. 7



True - ANSWERSThe following are examples of investment property:

, (a) land held for long-term capital appreciation rather than for short-term sale in the ordinary course of
business.

(b) land held for a currently undetermined future use. (If an entity has not determined that it will use the
land as owner-occupied property or for short-term sale in the ordinary course of business, the land is
regarded as held for capital appreciation.)

(c) a building owned by the entity (or a right-of-use asset relating to a building held by the entity) and
leased out under one or more operating leases.

(d) a building that is vacant but is held to be leased out under one or more operating leases.

(e) property that is being constructed or developed for future use as investment property.



par. 8



True - ANSWERSThe following are examples of items that are not investment property and are therefore
outside the scope of this Standard:

(a) property intended for sale in the ordinary course of business or in the process of construction or
development for such sale (see IAS 2 Inventories), for example, property acquired exclusively with a view
to subsequent disposal in the near future or for development and resale.

(b) [deleted]

(c) owner-occupied property (see IAS 16 and IFRS 16), including (among other things) property held for
future use as owner-occupied property, property held for future development and subsequent use as
owner-occupied property, property occupied by employees (whether or not the employees pay rent at
market rates) and owner-occupied property awaiting disposal.

(d) [deleted]

(e) property that is leased to another entity under a finance lease.



par. 9



True - ANSWERSSome properties comprise a portion that is held to earn rentals or for capital
appreciation and another portion that is held for use in the production or supply of goods or services or
for administrative purposes. If these portions could be sold separately (or leased out separately under a
finance lease), an entity accounts for the portions separately. If the portions could not be sold separately,
the property is investment property only if an insignificant portion is held for use in the production or
supply of goods or services or for administrative purposes.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Bensuda. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

64670 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(3)

Texas Barber Exam Practice Test 2023 with 100% correct answers

Summary ·

(0)

Samenvatting theorie + examenvragen Fysica examen juni 6de jaar

Exam (elaborations) ·

(0)

2025 Galen NUR 155 Exam 1 Latest Questions and Answers 100% Correct.

Exam (elaborations) ·

(0)

Sickle cell Case Study_NURS 354 Nursing care of the adult III

Exam (elaborations) ·

(0)

EXSS 181- Exam 1 questions and answers with correct solutions.

Exam (elaborations) ·

(0)

MTMI CIIP Exam Review Questions With 100% Correct Answers 2024

Exam (elaborations) ·

(0)

PSY 255 Exam #1 Practice Questions And Well Elaborated Answers | 2024.

Package deal ·

(0)

BUNDLE FOR NGN Exit Hesi ANSWER AND CORRECT ANSWER 2023//2024

Exam (elaborations) ·

(0)

Science Olympiad Road Scholar Latest Update with Verified Solutions
$10.49
  • (0)
Add to cart
Added