Answered
The accounting treatment for land under AASB 116/IAS 16 and AASB 141/IAS 41 differs depending on whether the land is/isn't an investment property. These differences relate to:
I. the recording of changes in fair value.
II. the initial measurement of the value of the land.
III. the subsequent measurement of the value of the land.
A) I only
B) II only
C) I, II and III
D) II and III only
On Jun 24, 2024