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Accounting for race horse

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(Querist)
08 July 2013 Race horse used for running in race course.
How this horse should be account for? Is it Investment or What? please help me in this issue.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
08 July 2013 It is an live stock. cannot be treated as investment
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
08 July 2013 Show them as asset as through them income is earned.
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PRABIR BASAK

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PRABIR BASAK (Querist)
09 July 2013 Which category of asset it is?
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PRABIR BASAK

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PRABIR BASAK (Querist)
09 July 2013 which category of Assets it is?
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