Select of Section of the statement of financial position where the following items are reported. Use the following code to identify your answer:
-Land
A) Property, plant and equipment(PPE)
B) Intangibles(I)
C) Other(O)
D) Not on the statement of financial position(N/A)

Question

Quizplus · Accepted Answer

Land is classified under Property, Plant, and Equipment (PPE) on the statement of financial position because it is a tangible asset used in operations and has a long-term use or value.

Select of Section of the Statement of Financial Position Where