Which following statement regarding investment property is true?
A)Investment property is property held to earn rentals from outside parties or held for capital appreciation.
B)Investment property includes property that is owner occupied and used or leased for use in the business.
C)Investment property includes property held as inventory such as a homebuilder.
D)U.S.GAAP and IFRS both specifically address this type of property in the standards.

Question

Quizplus · Accepted Answer

Investment property is property that is held to earn rentals from outside parties or held for capital appreciation. It does not include property that is owner-occupied or held as inventory. Both U.S.GAAP and IFRS have specific standards for investment property.

Which Following Statement Regarding Investment Property Is True