Question
At 31 March 2021, a valuation export informed the directors of Super that the property owned and used by Super for farming had significantly increased
At 31 March 2021, a valuation export informed the directors of Super that the property owned and used by Super for farming had significantly increased in value. This had been decided by looking at the price per square metre at similar properties in the area and concluded that this could be used to value Supers farm with no adjustments necessary.
Required: Which of the following bases describes the level of input used to value the farm in accordance with HKFRS 13 'Fair Value Measurement'?
| A. | Level 1 input | |
| B. | Level 2 input | |
| C. | Level 3 input | |
| D. | Level 4 input |
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Cima Official Exam Practice Kit Financial Accounting And Tax Principles 2008 Edition
Authors: Mike Rogers, John Dunn
4th Edition
0750686901, 978-0750686907
