Answered: When an entity uses the fair value…

When an entity uses the fair value model, changes in the fair values of investment property are recognized in profit or loss directly in equity recognized in other comprehensive income not recognized

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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When an entity uses the fair value model, changes in the fair values of investment property are
1. recognized in profit or loss directly in equity
2. recognized in other comprehensive income not recognized

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