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Determining the fair value of an investment property

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Reference no: EM132699309

Problem 1: Gain or loss from disposal of investment property is the difference between the

Group of answer choices

Option 1: Gross disposal proceeds and carrying amount of the asset.

Option 2: Gross disposal proceeds and fair value of the asset.

Option 3: Net disposal proceeds and carrying amount of the asset.

Option 4: Fair value and carrying amount of the asset.

Problem 2: Which of the following statements is incorrect in determining the fair value of an investment property?

Group of answer choices

Option 1: An entity shall determine the fair value of investment property by deducting transaction cost that may be incurred upon disposal.

Option 2: The fair value of investment property excludes prepaid or accrued operating lease income.

Option 3: If an office is leased on a furnished basis, the fair value of the office generally includes the fair value of the furniture because the rental income relates to the furnished office.

Option 4: The fair value of investment property shall reflect market conditions at the end of the reporting period.

Reference no: EM132699309

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