Question: c ) ( 5 Marks ) A golf course land initially measured at cost 1 . 5 m . Three years before land was revalued

c)
(5 Marks)
A golf course land initially measured at cost 1.5m. Three years before land
was revalued to 2m. Because of downturn in the economy the current
value of land has decline to 1.3m.
Required
How should the above fall in value be reflected in the financial statements
in accordance with IAS 16?
c) (5 Marks) A golf course land initially measured at cost

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