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Indicate whether each of the following describes an accounting treatment that is acceptable under IFRS, U.S. GAAP, Both or neither . * A dairy company
Indicate whether each of the following describes an accounting treatment that is acceptable under IFRS, U.S. GAAP, Both or neither .
* A dairy company records a herd of milk cows at fair value based on an independent appraisal.
* A hotel contains a shopping arcade filled with independent retailers . The hotel measures the arcade's fair value each accounting period and includes valuation gains and losses in that period's income statement.
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