Page 23 - IC46 addendum

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property, plant and equipment, whereas AS
10 does not have any such criteria.
d. As per IND AS 16 initial costs as well as
subsequent costs are evaluated on the same
recognition principles to determine items of
property, plant and equipment.
e. None are incorrect.

28. Which of the statement is incorrect in
respect of IND AS:

a. IND AS 16 covers accounting and
depreciation on property, plant and
equipment.

b. IND AS 16 excludes accounting for real estate
developers from its scope.

c. IND AS 16 lays down the criteria which should
be satisfied for recognition of items of
property, plant and equipment, whereas AS
10 does not have any such criteria.

d. As per IND AS 16 initial costs as well as
subsequent costs are evaluated on the same
recognition principles to determine items of
property, plant and equipment.

e. All are correct.

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