6. Which statement regarding investment property is correct? a. If the entity elects the fair value model, no depreciation b. Gain or loss from fair value adjustment is reported in c. If the entity elects the cost model, depreciation should d. All of these statements are correct regarding investment is taken. the income statement. be recognized. property 5. Under IFRS, assets classified as investment property ar a. Held for rental income b. To be sold for a quick profit c. Held for rental income or to be sold for a quick proit d. Held for sale in the ordinary course of business 476