ABC Inc Purchased a Shopping Complex and with It, a Large

question 22

Multiple Choice

ABC Inc. purchased a shopping complex and with it, a large condominium complex attached to it in the amount of $20,000,000 on January 1, 2013. Both complexes are designated investment property. Both facilities are estimated to have a useful life of eighteen years and a salvage value of $2 million dollars. On December 31^st, 2013, the fair value of both complexes was $25 million. ABC Inc. prepares its financial statements under IFRS. Assuming that ABC uses the Fair Value Model to account for the complex, the amount of amortization expense to be recorded on ABC's 2013 financial statements would be:

• A) $2 million.
• B) $1 million.
• C) $1.8 million.
• D) Nil.

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Definitions:

Dream Interpretation

The therapeutic technique of uncovering the hidden meaning of dreams.

Carl Jung

Carl Jung was a Swiss psychiatrist and psychoanalyst who founded analytical psychology, known for concepts like the collective unconscious and archetypes.

Sigmund Freud

An Austrian neurologist and the founder of psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.

The Self

The individual's conception and expression of their identity, personality, abilities, and beliefs.