The cost model to report property, plant and equipment is where the carrying value on the balance sheet is the fair value less accumulated depreciation.

Name: The cost model to report property, plant and equipment is where the carrying value on the balance sheet is the fair value less accumulated depreciation.
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Question

Quizplus · Accepted Answer

The cost model involves reporting property, plant, and equipment at their historical cost less any accumulated depreciation and impairment losses, not at fair value.

The Cost Model to Report Property, Plant and Equipment Is