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Is a factory owned by connect ltd

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Reference no: EM132476273

Indicate if the following items are to be classified as investment properties in the company's accounts. State Yes or No in the box below.

Question (i) A commercial property that is currently owned by Connect Ltd and rented to an events management company under a finance lease. (Yes or No)

Question (ii) A building currently under construction by Connect Ltd. Upon completion, the company plans to use it for warehousing. (Yes or No)

Question (iii) A warehouse owned by Connect Ltd and is rented out to Star Ltd under an operating lease to store its office furniture during the renovation period. (Yes or No)

Question (vi) A freehold premise owned by Connect Ltd. The company intends to sell it at a good value as soon as a potential buyer is found. (Yes or No)

Question (v) A building owned by Connect Ltd and currently occupied by its administration and finance departments. (Yes or No)

Question (vi) A factory owned by Connect Ltd and is being rented out to a manufacturer of computer accessories on a non-cancellable three-year lease. (Yes or No)

Question (vii) Some residential apartment units owned by Connect Ltd and currently rented to its directors at market rental rates. (Yes or No)

Question (viii) A piece of office equipment owned by Connect Ltd but currently not in use. Connect Ltd intends to sell it when the price is right. (Yes or No)

Reference no: EM132476273

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