Question

A Ltd owns land and building which are carried in its balance sheet at an aggregate carrying amount of 10 million. The fair value of such asset is 15 million. It exchanges the land and building for a private jet, which has a fair value of ₹20 million, and pays an additional 3 million in cash. As per Ind AS 16 what should be the cost?

A 10 million
B 15 million
C 18 million
D 20 million
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