alleryStart learning →Which of the following is outside the scope of IAS 16?
AFactory plant and machinery
BAgricultural biological assets
CA company-owned office building
DA fleet of delivery vehicles
Answer & Solution
Correct answer: B. Agricultural biological assets
Biological assets related to agriculture fall under IAS 41, so IAS 16 does not apply to them.
Keep practising Property, Plant and Equipment
Browse all Property, Plant and Equipment questions for CA Inter, or explore more Accounting topics.
Related questions
Depletion applies to which type of asset?If book and tax depreciation rates differ for a company, what does this create?Depreciation methods that charge more in early years are described as what?Which method is described as the simplest and most often used depreciation method?Yearly depreciation is debited to expense and credited toNet book value of an asset is the historical cost less what?Machine cost Rs 1,20,000, expected sale Rs 15,000, disposal cost Rs 5,000. Residual value?How is a capital expenditure recorded in the books?