This is an accounting question is Land held for investment considered a current asset or a PP & L?

Need some additional facts here, which I presume --

1) this is a for profit enterprise
2) the enterprise is in the business of buying and selling land as an investment

Based on this -- the land is a current asset (inventory).

If the property is not inventory nor being used in the business then it is a category of real estate held for sale.

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