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I had a doubt about IAS treatment about investment property. (Jun’07 Q3)
It reads “Lament owns a residential apartment above its head office. Until 31 December 2006, it was let for $3,000 a month. Since 1 January 2007, it has been occupied rent-free by the senior sales executive.”
Do we need to derecognize the investment property (and reclassify it)?
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Got it, Thank you very much. 😀
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