Reference no: EM132699311

Problem 1: If an entity owns and manages a hotel, services provided to guests are a significant component of the arrangement as a whole. In such a case, the hotel is classified as

Group of answer choices

Option 1: Neither investment property nor partly owner-occupied property.

Option 2: Partly investment property and partly owner-occupied property.

Option 3: Owner-occupied property

Option 4: Investment property

Problem 2: A noncurrent asset that is to be abandoned shall not be classified as held for sale because

Group of answer choices

Option 1: It is difficult to value.

Option 2: The carrying amount is recovered principally through continuing use.

Option 3: It is unlikely that there is an active market for the noncurrent asset.

Option 4: It is unlikely that the noncurrent asset is sold within twelve months.