IAS 16/AASB 116 Defines the Cost of Acquisition for Fixed

Multiple Choice

IAS 16/AASB 116 defines the cost of acquisition for fixed assets as:

A) purchase cost plus any incidental costs directly attributable to acquiring the asset and getting it ready for use.
B) invoice cost.
C) carrying value in the previous owner's books.
D) invoice cost plus freight inwards, plus other costs of acquiring the asset.