alleryStart learning →How can the value of land be estimated for a revaluation?
ARecent prices of similar plots
BThe owner's stated wish for it
CLast year's rent received only
DThe share price of the firm
Answer & Solution
Correct answer: A. Recent prices of similar plots
Prices of comparable plots sold in the area, adjusted for differences, give a fair estimate.
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?