Which of the following is NOT included in the IAS16 definition of property, plant, and equipment (PPE)?
A) PPE will be used over more than one accounting period.
B) PPE is held for use in the production of goods and services.
C) PPE can be tangible or intangible.
D) PPE is tangible.

Question

Quizplus · Accepted Answer

The IAS16 definition only includes tangible assets, so option C, which mentions intangible assets, is not included. Options A, B, and D are all correct and are included in the definition of PPE.

Which of the Following Is NOT Included in the IAS16