- 1 Marks
FA – May 2023 – L1 – SA – Q8 – Accounting for Property, Plant, and Equipment (IAS 16)
Identifying when depreciation on property, plant, and equipment starts according to IAS 16.
Question
When is depreciation on property, plant and equipment required to start in accordance with IAS 16?
A. At the date the asset was purchased
B. When payment to the vendor is completed
C. When the assets are put to use by the management
D. When the assets are available for use
E. After employees are trained on the use of the assets
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