alleryStart learning →Which valuation is encouraged for fair value?
AIndependent qualified valuer
BCompany finance manager
CPrevious property owner
DRevenue department clerk
Answer & Solution
Correct answer: A. Independent qualified valuer
Use of an independent valuer with recognised qualification and recent location experience is encouraged but not compulsory.
Keep practising Ind AS 23 Borrowing Costs and Ind AS 40 Investment Property
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Related questions
Restrictions on realisability: what is disclosed?If fair value is unreliable, what is disclosed?When classification is hard, what is disclosed?Which profit or loss amounts must be disclosed?What must be disclosed under the cost model?Liabilities kept after disposal fall under which Standard?Compensation for lost property is recognised when?Carrying Rs 1.2 crore; net proceeds Rs 1.5 crore. Recognised?