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QUESTION 3 (20 MARKS) MFRS 140 defines Investment Property (Para 5): property (land or a building / both) held to earn rentals or capital appreciation

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QUESTION 3 (20 MARKS) MFRS 140 defines Investment Property (Para 5): property (land or a building / both) held to earn rentals or capital appreciation or both, rather than use in the business or for sale in the ordinary course of business. Required: (a) Differentiate between investment property and owner-occupied property. (10 marks) (b) Subsequent to initial recognition, an entity can choose either the cost model of fair value model as its accounting policy. Distinguish these two models. (10 marks)

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