- 1 Marks
Question
Which of the following is NOT a disclosure requirement for property, plant and equipment, as per IAS 16 – Property, Plant and Equipment?
- A. The measurement bases used for determining the gross carry amount of property, plant and equipment
- B. The number of inspections carried out on items of property, plant and equipment
- C. The depreciation methods used for each major class of property, plant and equipment
- D. The impairment losses recognised during the period
- E. The total cost of property, plant and equipment acquired through business combinations
Answer
B. The number of inspections carried out on items of property, plant and equipment
Explanation:Â The correct answer is B, as IAS 16 requires disclosures related to measurement bases, depreciation methods, and impairment losses but does not mandate disclosure of the number of inspections carried out on PPE.
- Tags: Disclosure, IAS 16, Plant and Equipment, Property
- Level: Level 1
- Uploader: Theophilus