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- IAS 40 – Investment Property 0%
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Question 1 of 10
1. Question
Under which of the following conditions does an exchange transaction have commercial substance?
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Question 2 of 10
2. Question
For the purpose of determining whether an exchange transaction has commercial substance, the entity-specific value of the portion of the entity’s operations affected by the transaction shall reflect pre-tax cash flows.
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Question 3 of 10
3. Question
Under which of the following conditions is the fair value of an asset reliably measurable?
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Question 4 of 10
4. Question
If the entity is able to measure reliably the fair value of either the asset received or the asset given up, then the fair value of the asset __________ is used to measure cost __________ the fair value of the asset received is more clearly evident.
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Question 5 of 10
5. Question
An entity may choose __________ for all investment property backing liabilities that pay a return linked directly to the fair value of, or returns from, specified assets including that investment property.
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Question 6 of 10
6. Question
If an investment property is sold from a pool in which the fair value model is used into a pool in which the cost model is used, the property’s fair value at the date of the sale becomes its __________.
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Question 7 of 10
7. Question
Under which of the following cases shall an entity apply IAS 37 Provisions, Contingent Liabilities and Contingent Assets with respect to its investment property?
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Question 8 of 10
8. Question
In which of the following cases may an entity be not able to measure reliably the fair value of the investment property on a continuing basis?
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Question 9 of 10
9. Question
If an entity determines that the fair value of an investment property under construction is not reliably measurable on a continuing basis, the entity shall measure that investment property using the cost model in IAS 16 Property, Plant and Equipment.
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Question 10 of 10
10. Question
The presumption that the fair value of investment property under construction can be measured reliably can be rebutted only on initial recognition.
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