The single cost of acquiring land and usable old building is

a. Charged to the building only

b. Allocated between land and building based on relative fair values
c. Allocated between land and building based on carrying amount
d. Charged to the land only

When accounting for property, plant and equipment, an entity

a. Must use the cost model.

b. May elect to use the cost model or the revaluation model on any asset class.
c. Must use the cost model for land.
d. May elect to use the cost model or the revaluation model on any individual asset.

Which disclosure is not required about government grant?

a. Unfulfilled condition and other contingency attaching to government assistance

b. The accounting policy adopted for government grant
c. The nature and extent of government grant recognized in the financial statements
d. The name of the government agency that gave the grant

Carrying amount is

a. Cost of an asset or the amount substituted for cost in the financial statements, less residual
value.
b. Amount at which an asset is recognized in the statement of financial position after deducting
any accumulated depreciation and accumulated impairment loss.
c. Amount of cash paid or the fair value of the other consideration given to acquire an asset at the
time of acquisition or construction.
d. Net amount which the entity expects to obtain for an asset at the end of the useful life after
deducting the expected cost of disposal.