INVESTMENT PROPERTY Flashcards
Master IP
1
Q
What is the classification for vacant building to be leased out?
A
IP
2
Q
Are start-up costs included in the measurement of IP?
A
No
3
Q
When is the revaluation surplus recorded in reclassification of investment property?
A
PPE to IP
4
Q
Where is the gain on transfer recorded?
A
Profit or Loss
5
Q
A
