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An entity using the cost model for investment property in accordance with IAS 40 shall use the cost model for IAS 16 PPE. True or false?

Accounting Financial Reporting Financials Finance Accountancy
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Question added by Toyin Adun-FCA-MBA-Finance-CMA , Finance Manager , Emirates Business Group
Date Posted: 2015/11/17
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by Deleted user

True, Investment Property is initially recognized at cost. thus the model used is IAS 16

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