When an asset is measured using the revaluation model,any impairment loss is treated as:
A)a revaluation decrement.
B)a revaluation increment.
C)a set-off against depreciation expense.
D)an addition to depreciation expense.

Question

Quizplus · Accepted Answer

With the revaluation model, the asset is measured at fair value and any increase or decrease in value is recorded as a revaluation increment or decrement respectively. An impairment loss indicates a decrease in value, therefore it is recorded as a revaluation decrement.

When an Asset Is Measured Using the Revaluation Model,any Impairment