The cost model of accounting for PP&E assets
A)Should be applied to investment property only
B)Should be applied to other PP&E assets only
C)Can be applied to all classes of PP&E including investment property.
D)Is not appropriate under current Canadian GAAP

Question

Quizplus · Accepted Answer

The cost model can be applied to all classes of PP&E under Canadian GAAP, including investment property. This model involves measuring the asset at cost less accumulated depreciation and any accumulated impairment losses.

The Cost Model of Accounting for PP&E Assets