Consider the following statement in context of IAS 40 Investment property: P...
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Consider the following statement in context of IAS 40 Investment property: P Limited is the parent of S Limited. P Limited leases a property under an operating lease to S Limited. S Limited uses the property as its head-office. P Limited will account for this property as investment property but S Limited and the P & S Group would account for it as property, plant and equipment. (Indicate whether above statement is true or false?
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