Which of the Following Items Should Be Included in the Cost

question 8

Multiple Choice

Which of the following items should be included in the cost of property, plant, and equipment under IAS 16?

• A) All costs directly attributable to getting the asset to the proper location
• B) Import duties and taxes
• C) Estimated costs of removing the asset
• D) All of these should be considered part of the cost of the asset.

---

Definitions:

English Rule

Refers to the period of governance over territories and colonies by the English monarchy and later the British government, prior to achieving independence or transitioning to local self-rule.

Navigation Act

Laws passed by the British government in the 17th and 18th centuries regulating trade and commerce in the British Empire, aimed at promoting British shipping and controlling colonial trade.

Mercantilism

Policy of Great Britain and other imperial powers of regulating the economies of colonies to benefit the mother country.

Royal Navy

The naval warfare service branch of the United Kingdom, known for its historic role in British colonialism and major global conflicts.