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Asset under IAS16 “are held for use in production or supply of goods and services, for rentals to others or for administrative purposes”
IAS40 includes “property that is held by owner or lessee as a right of use asset to earn rentals or for capital appreciation”Both of these definitions includes property held for rentals. How do we differentiate between “property held by owner to earn rentals” between these two to know which IAS to apply ?
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