alleryStart learning →Plan to sell investment property undeveloped: classification?
AMoved to inventory now
BMoved to owner-occupied
CMoved to intangibles
DStays investment property
Answer & Solution
Correct answer: D. Stays investment property
A decision to dispose without development leaves it as investment property until derecognised, not inventory.
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Related questions
Restrictions on realisability: what is disclosed?If fair value is unreliable, what is disclosed?When classification is hard, what is disclosed?Which profit or loss amounts must be disclosed?What must be disclosed under the cost model?Liabilities kept after disposal fall under which Standard?Compensation for lost property is recognised when?Carrying Rs 1.2 crore; net proceeds Rs 1.5 crore. Recognised?