It Is Possible to Measure Assets in Several Ways: the Possible

Multiple Choice

It is possible to measure assets in several ways: the possible ways include:
I. $\quad$ cost – an input or entry measure
II. $\quad$ replacement cost – an input or entry measure for a equivalent asset in new condition (an input or entry measure)
III. $\quad$ value in use (present value of future cash flows)
IV. $\quad$ current cost – the cost of replacing the production capacity that an asset had when new (an input or entry measure)
V. $\quad$ fair value less cost to sell
VI. $\quad$ fair value used under revaluation model
-When the revaluation model is adopted, the carrying amount at reporting date is measured by:

A) VI in all cases
B) VI, except when VI is less than IV, in which case IV is used
C) IV in all cases
D) VI, except when the both III and V are less than VI, when the greater of III and V is used