A company has purchased a tract of land and expects to build a production plant on the

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A company has purchased a tract of land and expects to build a production plant on the land in approximately 5 years. During the 5 Years before construction, the land will be idle. Under IFRS, the land should be reported as:

A) Land Expense

B) Property, plant and equipment

C) An intangible asset

D) A long term investment

Also, can you please provide a breif explanation for why you choose that answer?

Related Book For answer-question

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

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Posted Date: Jan 07, 2021 12:14 AM

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A company has purchased a tract of land and expects to build a production plant on the

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D A long term investment Explanation T... View the full answer

Smith and Roberson Business Law

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