Under the revaluation method, the carrying amount of property, plant, and equipment is defined as
A) cost less accumulated depreciation.
B) fair value less accumulated depreciation less accumulated impairment losses.
C) cost less depreciation expense less impairment loss.
D) cost less depreciations expense.

Question

Quizplus · Accepted Answer

Under the revaluation method, the carrying amount is the fair value of the asset at the revaluation date less any subsequent accumulated depreciation and accumulated impairment losses.

Under the Revaluation Method, the Carrying Amount of Property, Plant