Under IFRS
A)companies can apply fair value to property, plant, and equipment and natural resources.
B)companies can apply fair value to property, plant, and equipment but not to natural resources.
C)companies can apply fair value to neither property, plant, and equipment nor natural resources.
D)companies can apply fair value to natural resources but not to property, plant, and equipment.

Question

Quizplus · Accepted Answer

Under IFRS, companies can apply fair value to property, plant, and equipment and natural resources, provided that they meet certain criteria, such as being able to measure their fair value reliably. However, fair value accounting is optional and companies can choose to use the cost model instead.