Hi
As on end of the Fianancial year, a property developer has completed inventories of residential units which it expects to sell in 3 years. Historically similar residential units have been sold in 3 years. Please help me in this regard about how it needs to be classified in the books(i.e., Either Non-current asset or Current asset or Fixed asset or Capital work on progress)
The intention behind this question from the quiz page of The Chartered Accountants Student, Nov 2016 edition is asked so that you will at least go through balance sheet classifications and not just to know this answer from this forum and try to earn a reward of ₹1000 better learn the concepts well from now on
Hi Sayee prem,
May be my intention is the same u thought but i'm not expecting any reward from ICAI like you. if u know then answer the question, don't judge the intentions of others and you are not the only person who knows everything.
CAclubindia
