The following information is relevant to question 1.1 and 1.2. The CEO of Sky Ltd is considering adopting the revaluation model for the measurement of the company's buildings, given the recent price increase in the property market. When applying the fair value measurement, the CEO takes into consideration how the company is currently using the buildings, and he believes that entity-specific information needs to be considered in the generation of fair value measurements. The CEO doubts that an asset measured on any other basis than its current use will provide more useful information to the users of financial statements. Q1.1 3 Points Please explain whether the CEO's view is consistent with AASB 13 Fair Value Measurement Enter your answer here The CEO of Sky Ltd also believes that given the increase in property price, gain from adopting the revaluation model for the buildings will increase the company's profits of current and future periods. Do you agree with the CEO of Sky Ltd? Please explain. Enter your answer here