Contrado Limited, which has diverse activities, owns the Gohar Tower in Karachi, which is the group’s head office. Decide whether the tower falls within the definition of an investment property under IAS 40, an item of property, plant and equipment under IAS 16, or an item of inventory under IAS 2.
There is not enough information to make a determination
This is an item of property, plant and equipment
This is an item of inventory
It is an investment property.
It is an investment property.