Question

How are tangible assets classified?

a.

Land, Buildings, and Plant and Equipment only.

b.

Land, Buildings, and Furniture and Fixtures only.

c.

Land, Buildings, and Vehicles only.

d.

Land, Buildings, and all other specified categories.

Answer: (d).Land, Buildings, and all other specified categories. Explanation:Tangible assets are classified as Land, Buildings, Plant and Equipment, Furniture and Fixtures, Vehicles, Office Equipment, and others with a specified nature.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. How are tangible assets classified?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. How should assets under lease be specified in the classification of tangible assets?

Q. What information should be disclosed regarding the reconciliation of the gross and net carrying amounts of tangible assets?

Q. How are intangible assets classified?

Q. How are non-current investments classified?

Q. What information should be disclosed under the classification of non-current investments?

Q. How should investments carried at other than cost be disclosed?

Q. What information should be disclosed regarding long-term loans and advances?

Q. How are other non-current assets classified?

Q. How should long-term trade receivables be sub-classified?

Q. What information should be disclosed regarding current investments?

Q. How are current investments classified?

Q. How should inventories be classified?

Q. How should goods-in-transit be disclosed in inventories?

Q. What should be stated regarding the mode of valuation of inventories?

Q. How should trade receivables be classified?

Q. What should be separately stated regarding cash and cash equivalents?

Q. How are short-term loans and advances classified?

Q. What should be disclosed regarding other current assets?

Q. How are contingent liabilities classified?

Q. What should be disclosed regarding dividends?

Recommended Subjects

Are you eager to expand your knowledge beyond IC 89 Management Accounting? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!