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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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