Reference no: EM132698067

Problem 1: Which of the following disclosures shall be made when the fair value model has been adopted?

Group of answer choices

Option 1: The amount of impairment loss recognized.

Option 2: Net gains or losses from fair value adjustments

Option 3: Depreciation method used.

Option 4: Useful life or depreciation rate used

Problem 2: Which of the following statements best describes investment property?

Group of answer choices

Option 1: Property held for use in the production and supply of goods or services and property held for administrative purposes.

Option 2: Property held for sale in the ordinary course of business.

Option 3: Property held for capital appreciation.

Option 4: Property held to earn rentals or for capital appreciation.