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      Question

      Insurer owns a building leased out to an unrelated

      party; management uses cost model. What disclosures are still required?
      A None, as cost model chosen Correct Answer Incorrect Answer
      B Fair value disclosure of investment property Correct Answer Incorrect Answer
      C Only depreciation rate Correct Answer Incorrect Answer
      D Only lease term Correct Answer Incorrect Answer
      E Only cost and accumulated depreciation Correct Answer Incorrect Answer

      Solution

      Fair value must be disclosed even if cost model is used.

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