For the purposes of recognising property, plant and equipment assets the acquisition date is the date:

Question

Quizplus · Accepted Answer

The acquisition date for property, plant and equipment assets is the date on which the acquirer obtains control of the asset. This is typically when the asset is transferred to the acquirer and the acquirer is able to use and benefit from it. The other options are not necessarily indicative of when control is obtained and therefore are not relevant dates for recognizing the asset.

For the Purposes of Recognising Property, Plant and Equipment Assets