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1. Define an investment property in accordance with MFRS 140 Investment Property. (2 marks) 2. Explain briefly the classification of the 3-storey building in the
1. Define an investment property in accordance with MFRS 140 Investment Property. (2 marks) 2. Explain briefly the classification of the 3-storey building in the financial statements following MFRS 140 Investment Property. (3 marks) 3. Referring to the same building in (2), explain briefly its classification in the financial statements, if each floor cannot be sold separately. (2 marks) 4. Discuss the classification of the second and third floor of the 3-storey building and determine the carrying amount as at 31 December 2020. (4 marks)
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