n entity owns a building that it currently uses for office space. The building could also be sold to a developer for conversion into a hotel. According to IFRS $13,$ how should the fair value of the building be determined?

Question $21$Answer

a$.$

Based on its highest and best use, which may be for a hotel

b$.$

Based on the historical cost of the building

c$.$

Based on the cost of building a similar structure

d$.$

Based on its current use as office space