Which of the following is the best representation of the accounting for Fixed Assets under US GAAP and IFRS? If reliable market data demonstrates that the fair value-of a fixed asset has significantly increased, only IFRS allows companies to account for this difference. If reliable market data demonstrates that the fair value of a fixed asset has significantly increased, only US GAAP allows companies to account for this difference. If reliable market data demonstrates that the fair value of a fixed asset has significantly increased, both US GAAP and IFRS would allow companies account for this difference. IFRS allows companies to choose the value of their fixed assets without any reliable market data, while US GAAP requires reliable market data. Which of the following is the best representation of the accounting for Investment Property under US GAAP and IFRS? US GAAP requires a separate asset category for investment Property, while IFRs does not. US GAAP requires that fair value changes to Investment Property flow directly into Net income, while lFRS does not. IFRS requires a separate asset category for property held for rental income or capital appreciation. US GAAP and IFRS account for Investment Property in an identical manner