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:

Mammary Glands

Glandular organs located on the chest of females and some males, responsible for milk production.

Adipose Tissue

A type of connective tissue that stores fat and helps insulate the body and provide energy storage.

Cooper Ligaments

Fibrous connective tissues within the breast that maintain structural integrity and support breast shape.

Vulva

External genitalia of the female, composed of the mons pubis, the labia majora and minora, the clitoris, the vestibule of the vagina and its glands, and the opening of the urethra and of the vagina; also called pudendum.