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Dear Tutor,
Please, I’d like to ask:
LAND for use in production/supply of goods/services or for administrative purposes; is this classification of land as owner occupied property?
LAND for sale in the ordinary course of business; can this be classified as inventory?
I’m revising, saw this,and its suddenly so complicated despite having read it before.
Thank you for your time and response.Land purchased by a property company for development or trade is inventory
Land held not for development or trade but instead is owner occupied land is PPE
Ok?
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