CERTYNEX IFRS ACADEMY

Urvane applies the fair value model to its investment property. Which combination correctly describes how fair value is determined and how its change is recognised?

Fair value determined under IFRS 13 on the basis of the market at the reporting date, change recognised in profit or loss.

Entity-specific fair value set by IAS 40 alone, change recognised in other comprehensive income.

Fair value determined under IFRS 13, change recognised in other comprehensive income like a revaluation.

Cost less depreciation, change in value recognised in profit or loss.