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Explain the tupper co shall recognize loss

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Reference no: EM132615293

Problem 1: Statement 1: Investment properties measured under the fair value model are not depreciated even if the investment property is depreciable, e.g Building.

Statement 2: Tupper Co replaces the escalator in its building that is classified as investment property. The newly installed escalator has a cost of 1M while the carrying amount of the old escalator that was replaced is P200K. Tupper Co shall recognize loss of P800K from the replacement of the old escalator

A. TRUE, TRUE

B. FALSE, FALSE

C. TRUE, FALSE

D. FALSE, TRUE

Reference no: EM132615293

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