How does the fair value model differ from revaluation model

Reference no: EM132812618

Problem 1: All of the following do not qualify as investment property, except

a. Machineries that are held for lease
b. Hotels or motels
c. Agricultural land purchased for appreciation purposes
d. Equipment purchased for an indeterminate purpose

Problem 2: How does the fair value model differ from the revaluation model?

a. Increases in carrying amount above a cost-based measure are recognized in equity
b. Changes in fair value are recognized in profit or loss
c. a and b
d. neither a nor b

Problem 3: Select the correct statement.

a. A leasing company should treat all its assets used in providing lease services as investment property.
b. Investment properties that are to be disposed of without further development are treated as investment property until they are derecognized.
c. All investment properties held for capital appreciation will be classified as held for sale in the long run.
d. Investment properties being re-developed as investment properties on behalf of third parties are investment properties.

Reference no: EM132812618

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