The following rules represent correct guidelines in the transfer to and from investment property classification except: Group of answer choices For transfers from inventory to PPE, the difference between fair value and the previous carrying amount is recognized in profit or loss during the period. For transfers from investment property carried at fair value to inventories, the difference between fair value and carrying amount shall be recognized in profit or loss during the period. For transfers from investment property carried at fair value to PPE, the fair value at the date of change of use is the cost of the property under the new classification. For transfers from PPE to investment property carried at fair value, any difference from carrying amount and fair value is treated as revaluation.
The following rules represent correct guidelines in the transfer to and from investment property classification except:
Group of answer choices
For transfers from inventory to PPE, the difference between fair value and the previous carrying amount is recognized in profit or loss during the period.
For transfers from investment property carried at fair value to inventories, the difference between fair value and carrying amount shall be recognized in profit or loss during the period.
For transfers from investment property carried at fair value to PPE, the fair value at the date of change of use is the cost of the property under the new classification.
For transfers from PPE to investment property carried at fair value, any difference from carrying amount and fair value is treated as revaluation.
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