Assume a company has chosen the IFRS revaluation policy. At 12/31, the fair value of a building exceeds the book value. Which is true for the Gross Carrying Amount method, butNOTthe Proportional Method?

Select one:

a.The Accumulated Depreciation balance is eliminated

b.The Building account balance will not change

c.Both the Building and Accumulated Depreciation account balances will increase

d.A Gain from Revaluation will be recorded

e.A Revaluation Surplus will be recorded