All of the following are true regarding the revaluation model allowed under GAAP except;

Select one:

a. Once selected, the revaluation policy applies to an entire class of property, plant and equipment.

b. When an asset is revalued, any increase in carrying amount is reported as miscellaneous revenue.

c. After initial recognition, the revalued amount is fair value less subsequent depreciation and impairment losses.

d. Revaluations must be made regularly to ensure that the carrying value is not materially different from fair value.