Classification of investment property (Potential Error in book?)

CFA Level I
#1

A firm that purchases a building that it intends to rent out for income would report this asset as investment property using the cost model under:

I thought answer was both GAAP and IFRS, but they claim it is just IFRS. I thought both accounting principles allowed for the cost method to report investment property?

#2

See curriculum p. 497 Reading 30:

_ Under US GAAP, there is no specific definition of investment property. _