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A. Cost minus any accumulated depreciation.
B. Cost minus residual value.
C. Fair value minus any subsequent accumulated depreciation and impairment losses.
D. The lower of cost or net realizable value.
C. Fair value minus any subsequent accumulated depreciation and impairment losses.
Option >>>>>>>>>>>>>>>>>>>>>>> C. Fair value minus any subsequent accumulated depreciation and impairment losses.
(C) is the Correct Ans.
Cost models describe that PP & E should be recognized at cost less and accumulated depreciation, But the revaluation model describe that PP & E should be recognized at Revalued amount. And the revalued amount is the fair value minus any subsequent accumulated depreciation and impairment losses.
