Which of the Following Is Not What IAS 16

Multiple Choice

Which of the following is not what IAS 16 / AASB 116 prescribes in relation to asset measurement?

A) IAS 16 /AASB 116 allows companies to choose between a cost model and a current cost model
B) On acquisition the cost price of the asset is its fair value
C) All assets within a class must be valued under the same principles but not all classes must use the same valuation model
D) Assets have to be revalued in a specified period