An item of property , plant and equipment that qualifies for recognition as an asset shall be measured at

Question

Quizplus · Accepted Answer

According to the International Accounting Standard (IAS) 16, an item of property, plant, and equipment that qualifies for recognition as an asset should initially be measured at its cost. This includes the purchase price and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

An Item of Property , Plant and Equipment That Qualifies