QUESTION 4 (4 marks) (8 minutes) The following information regarding Finesse Ltd was presented to...
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QUESTION 4 (4 marks) (8 minutes) The following information regarding Finesse Ltd was presented to you: Finesse Ltd was constructing a building to use for earning rental income. However, due to financial difficulties the construction of the building was stopped halfway through and it was decided to sell the building in its current condition . Finesse Ltd buys and sells properties as part of its business activities. REQUIRED: Discuss how Finesse Ltd will account for the building if its intention is now to sell the building in its current condition
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