Assigment 6

Investment properties

Kerjakan seluruh soal berikut secara berurutan dalam word document

Multiple Choice
1. Which of the following terms does this statement define: “the amount of cash or cash equivalents paid or
the fair value of other consideration given to acquire an asset at the time of its acquisition or construction”?
a. Cost
b. Deemed cost
c. Fair value
d. Present value

2. Which of the following does not define investment property?

a. Property held to earn rentals
b. Property held for capital appreciation
c. Property used in the production or supply of goods or services
d. a and c

3. Which of the following statements is true with regards to an investment property?

a. An investment property generates cash flows largely independently of the other assets held by an
entity
b. The value in use of investment property is significantly higher than of owner-occupied property
c. An investment property unlike owner-occupied property shall not be depreciated over its useful life
d. An investment property unlike owner-occupied property shall always be measured at its historical
cost

4. International Accounting Standards (IAS) No.40 applies to the measurement in a lessee's financial
statements of investment property interests held under a lease accounted for as a finance lease and to
the measurement in a lessor's (providing lease) financial statements of investment property provided to
a lessee (receiving lease) under an operating lease
a. True b. False

5. IAS 40 deals with recognition of lease income from investment property

a. True b. False

6. Carrying amount is the amount at which an asset is recognised in the statement of financial position at
the date the entity took ownership of the asset
a. True b. False

7. Investment property is property (land or a building — or part of a building — or both) held (by the owner
or by the lessee under a finance lease) to earn rentals or for capital appreciation or both, rather than for:
(a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the
ordinary course of business. If a property management company receives rentals from its owned property,
the building and land is considered investment property.
a. True b. False
8. Under what circumstance can a lessee classify a leased property interest as investment property if it is
an operating lease?
a. Management believes it is more appropriate for the financial statements.
b. The lessee uses a fair value model and the property would otherwise meet the definition of an
investment property.
c. The rents and capital appreciation created from the property are a substantial source of the firm's
revenues.
d. All of the above

9. Why is the building where a manufacturing company's factory is located not considered investment
property?
a. The cash flows generated from the factory production as a result of the building is independant
from the cash flows generated as a result of other assets.
b. The cash flows generated from the factory production as a result of the building is not independent
from the cash flows generated as a result of other assets.
c. Historically the company has not seen the value of the building appreciate and does not expect it to
in the future.
d. The company is planning on moving locations in the next 3 years.

10. Which of the following illustrates an investment property?

a. A Vancouver condo that is rented by a grocery store for capital appreciation and rental
b. A building that operates and derives its cash flow from running as a hotel
c. A building that operates and derives its cash flow from running as a restaurant
d. A piece of land that is used as a farm

11. When it is probable that the future economic benefits that are associated with the investment property
will flow to the entity and the cost of the investment property can be measured reliably, the property
can be:
a. Measured as an asset
b. Measured as a liability
c. Expensed in the income statement in the period of payment
d. None of the above

12. Which of the following is not a transfer to, or from investment property?
a. Commencement of owner-occupation
b. End of owner-occupation
c. Commencement of development with a view to sale
d. Transfer from undetermined future use to operating lease

13. When an undertaking decides to dispose of an investment property without development:

a. It is reclassified as owner-occupied
b. It is transfer to inventory
c. It continues to treat the property as an investment property
d. None of above
Questions

Anda sebagai seorang konsultan jasa akuntansi sedang menghadapi pertanyaan-pertanyaan dari seorang
klien asing sebagai berikut:

1. What is owner-occupied property?

2. What can I include in the cost of an
investment property?
3. What is the fair value model and the cost
model?
Can I use either the cost model or the fair
value model? What if I cannot determine
an investment property’s fair value?
4. How do I account for third party
compensation for impaired or damaged
investment property?
5. What information do I disclose about
investment properties?

Anda diminta untuk menjawab dan menjelaskan sesuai dengan standar akuntansi yang berlaku saat ini.

Note:
Jawaban yang dikirim melebihi batas waktu yang ditentukan TIDAK AKAN DIPERIKSA dan dianggap tidak membuat
tugas.