Question

The methods allowed by the IFRS for valuing property, plant, and equipment are:______.

a. fair value and general purchasing power.
b. historic cost and fair value.
c. fair value and inflation-adjustment.
d. historic cost and general purchasing power.

Answer 1

The methods allowed by the IFRS for valuing property, plant, and equipment are: b. historic cost and fair value.

Step-by-step explanation:

IAS 16 in IFRS deals with Valuation of Property, Plant, and Equipment.

The method of subsequent measurement of Property, Plant, and Equipment allowed by the standars are Historic Cost and Fair Value (Revaluation)