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Which statements is incorrect concerning initial measurement

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Problem 1: Which of the following statements is incorrect concerning initial measurement of an investment property?

Group of answer choices

Option 1: The cost of the purchased investment property includes the purchase price and any directly attributable expenditure.

Option 2: If payment for an investment property is deferred, the cost is the cash price equivalent.

Option 3: The investment property shall be measured initially at fair value.

Option 4: The initial cost of a property interest held under a lease and classified as an investment property shall be the lower of the fair value of the property and the present value of the minimum lease payments.

Reference no: EM132698083

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