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Would land that is being held as a future building site be included on balance sheet??

Would land that is being held as a future building site be included on balance sheet??

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Answer #1

Yes: Land that is being held as a future building site would be included on balance sheet

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The land will be included in the balance sheet as it is an asset although building is to be constructed in future but still it is an investment at present so it will be included as an asset. it has no link with the building is to be constructed now or it is held for some future building site. When land is bought some amount got invested in it and that will be held for a longer period of time usually more than one year so it will be shown as non current asset

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