Subsequent to initial recognition, E&E assets are required to be measured:

A) under the cost model.
B) under the revaluation model.
C) at the lower of the cost and fair value.
D) either under the cost model or revaluation model.

Cost Model

An accounting method used to value an asset based on its historical cost minus any accumulated depreciation.

Revaluation Model

An accounting method that allows for the upward adjustment in the carrying value of a fixed asset to reflect its current market value.