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Which is select the incorrect statement regarding impairment

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Reference no: EM132700455

Problem 1: Select the correct statement.

a. A leasing company should treat all assets used in providing lease services as investment property.
b. Investment properties that are to be disposed of without further development are treated as investment property until they are derecognized.
c. All investment properties held for capital appreciation will be classified as held for sale in the long run.
d. Investment properties being redeveloped as investment properties on behalf of third parties are investment properties.

Problem 2: Select the incorrect statement regarding impairments of investment properties.

a. Investment properties are subject to impairment.
b. Impairments of investment properties of government entities are recognized in surplus or deficit.
c. Compensation from third parties for investment property that was impaired or lost shall be recognized in surplus or deficit when the compensation becomes receivable and not offset with the amount of loss.
d. Impairment losses on investment properties measured under the cost model are never reversed.

Reference no: EM132700455

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