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Hello
If an entity buys land as inveatment property but then after some time decides to develop it to sell, should it be classes as construction in progress or remain as investment property?..the entity’s normal course of business does NOT include selling land.Also at the time when the development has been completed and it is now ready for sale, should it be classed as assets held for sale?
OK. I’ll have a look at your other question early next week and get a simpler answer to you.
Thanks
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