Question

    According to Ind AS 16 - Property, Plant and Equipment,

    what is NOT considered when determining the cost of self-constructed assets?
    A Directly attributable costs Correct Answer Incorrect Answer
    B Abnormal waste Correct Answer Incorrect Answer
    C Normal construction costs Correct Answer Incorrect Answer
    D Normal waste Correct Answer Incorrect Answer

    Solution

    As per Ind AS 16 (Indian Accounting Standard 16) - Property, Plant and Equipment, when accounting for the cost of self-constructed assets, internal profits and abnormal waste are generally not included in the cost of the asset.

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