CERTYNEX IFRS ACADEMY

Belrive applies the IAS 16 revaluation model to its Land and buildings class and the cost model to its vehicles. It holds three right-of-use assets relating to warehouses (Land and buildings class) and two right-of-use assets relating to trucks. Which policy does IFRS 16 allow it?

Mandatorily revalue its five right-of-use assets, trucks included.

Elect to revalue the three warehouse rights, the truck rights remaining at cost.

Revalue only the warehouse right whose market value has risen most.

Measure the three warehouse rights under the IAS 40 fair value model.