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Advance Ltd is a manufacturer and wholesaler of automatic massage chairs. Indicate if the following items are to be classified as investment properties in the company's accounts.

state YES OR NO

Question (i) A factory owned by Advance Ltd and is being used for its manufacturing operations.

Question (ii) A building owned byAdvance Ltd and currently under construction. Upon completion, the company plans to rent it to another party.

Question (iii) The warehouse owned by Advanced Ltd and is used for storing the massage chairs.

Question (iv) A commercial property that is currently owned by Advanced Ltd and rented to a law firm under an operating lease.

Question (v) A piece of manufacturing equipment owned by Advanced Ltd but currently not in use. Advanced Ltd intends to sell at a good value as soon as a potential buyer is found.

Question (vi) A piece of vacant land owned by Advanced Ltd. The company is hoping to sell it when the market price is right.

Question (vii) Some residential apartment units owned by Advanced Ltd and currently occupied by some of its employees who rented them at market rates.

Question (viii) A building owned by Advanced Ltd and currently under construction. Upon completion, the building will be used as a showroom for the retailing of massage chairs manufactured by the company.

Reference no: EM132477608

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