I don't want to split hairs, but mastering to CD-A is processed at high resolution (usually analog - the highest possible resolution) and is then rendered TO a 16-bit replication master. It makes perfect sense when I think about it.
Not "mastering AT (or IN) 16-bit. There's a big (huge, gigantic, drastic) difference.
And again, WORD LENGTH (or BIT DEPTH). Not "bit rate" -- That has nothing to do with anything here. And it's not 24kbps (24,000 bits per second). It's 24-bit word length at 48Ks/S in this case. Big difference - Huge, gigantic, etc.
I can't think of one mastering scenario (and I can think of plenty of scenarios) where processing would occur in 16-bit. Rarely 24, more often at least 32 with a floating point, and again, generally speaking, analog.
I'm not sure where you're getting your information (and your general lexicon), but you should look for another source.