Ias 40 - Investment Property

5 Questions | Total Attempts: 1568

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Ias Exam Quizzes & Trivia

A quiz to test your knowledge of IFRS


Questions and Answers
  • 1. 
    • A. 

      The present value of the property

    • B. 

      The value in use of the property

    • C. 

      The net realisable value of the property

    • D. 

      The fair value of the property

  • 2. 
    An entity has a factory which due to a decline in activity is no longer required and is now being held for sale. Is this an investment property?
    • A. 

      Yes

    • B. 

      No

  • 3. 
    Farming land is purchased for its investment potential. Planning permission has not been obtained for building constructions of any kind. Is this an investment property?
    • A. 

      Yes

    • B. 

      No

  • 4. 
    Which TWO of the following properties fall under the definition of investment property and therefore within the scope of IAS 40?
    • A. 

      Property occupied by an employee paying market rent

    • B. 

      A building owned by an entity and leased out under an operating lease

    • C. 

      Property being constructed on behalf of 3rd parties

    • D. 

      Land held for long term appreciation

  • 5. 
    Which TWO of the following disclosures must be made when fair value model is adopted?
    • A. 

      Net gains or losses from fair value adjustments

    • B. 

      Useful lives or depreciation rates used

    • C. 

      The amount of impairment losses recognized

    • D. 

      Additions resulting from acquisitions through business combinations