Which of the Following Statements Isincorrect

question 106

Multiple Choice

Which of the following statements isincorrect ?

• A)Under the revaluation model, the carrying amount of property, plant and equipment is adjusted to reflect its fair value.
• B)With the revaluation model, revaluation gains are recorded in Other Comprehensive Income.
• C)Companies can choose to use the cost model or the revaluation model for property, plant and equipment.
• D)Reversals of revaluation gains or write-ups are prohibited.

---

Definitions:

Signal

An indication or sign that conveys information or instructions, often used in communication or control systems.

Supplier Partnerships

Partnership of suppliers and purchasers that removes waste and drives down costs for mutual benefits.

Employee Development

The ongoing effort to improve an organization's workforce through training and education, enhancing skills, knowledge, and abilities.

Level Schedules

A production strategy that aims to maintain a consistent output rate and workforce level, regardless of demand fluctuations.