According to IAS $40-$ Investment Property, after initial recognition, an entity must choose an accounting policy for its investment property. IAS $40$ allows two measurement models for subsequent measurement.

REQUIRED:

Which of the following statements correctly describes the methods available for subsequent measurement of investment properties?

$1.$

The fair value method or revaluation method;

$2.$

The cost model only.

$3.$

The fair value method or cost model;

$4.$

The fair value method only;