for the bridge. (5 marks] d) ABC Ltd ABC Ltd prepares accounts to 31 December. It acquired an administration block with an estimated useful life of 50 years at a cost of GHS22 million on 1 January 2011. The entity used the building until 1st April 2017, when it moved its office to a new building at the factory site . The building was reclassified as an investment property and leased out under a 40 year lease. The fair values of the building at 1s April 2017 and 314 December 2017 were GHS21 million and GH21.5 million respectively Required: Explain the treatment of the building in the 2017 financial statements (Statement of Profit and Loss for 2017 and Statement of financial position as at 31 December 2017) on the assumption that the entity uses the fair value model for investment properties. (5 marks] Total =20 marks Question 4 (a) The Conceptual Framework for Financial Reporting identifies faithful representation as a fundamental qualitative characteristic of useful financial information. Required: Distinguish between fundamental and enhancing qualitative characteristics and explain why faithful representation is important. (5 marks) b) Glory Ltd is a publicly listed company which has experienced rapid growth in recent years through the acquisition and integration of other companies. Glory Ltd is interested in acquiring Rita Ltd, a retailing company, which is one of several companies owned and managed by the same family. The summarised financial statements of Rita Ltd for the year ended 30 September 2014 are