IAS 16 - Property, Plant, and Equipment

Front

An item of Property, plant & equipment shall be recognized as an asset when: The cost of an asset can be measured reliably and it is probable that future economic benefits associated with the asset will flow to the entity.

Back

Both

Front

These are examples of PPE, except.

Back

Animals

Front

It means that the cost of the PPE together with the related accumulated depreciation shall be removed from the statement of financial position.

Back

Derecognition

Front

It is defined as the systematic allocation of the depreciable amount of an asset over the useful life.

Back

Depreciation

Front

These are the factors of depreciation in order to properly compute the amount of depreciation: Depreciable Amount, Residual Value, Useful life

Back

Depreciable Amount, Residual Value, Useful life

Front

Depreciation of an asset begins when it is available for use

Back

True

Front

Property, plant & equipment (IAS 16) are intangible assets

Back

False

Front

Residual Value is the estimated net amount currently obtainable if the asset is at the end of the useful life

Back

True

Front

The depreciation method shall not be reviewed at least at every year-end

Back

False

Front

Depreciable amount is the cost of an asset or other amount substituted for cost, less the residual value

Back

True