Assume Henan Corporation acquired a plot of land with a cost of 210,000. After one year the land is ...appraised as having a current fair value of 230,000. The revaluation result is Other comprehensive income-gain on revaluation 230,000 (Dr.) Other comprehensive income-gain on revaluation 20,000 (Cr.) o Other comprehensive income-Loss on revaluation 230,000 (Dr.) Other comprehensive income-Loss on revaluation 20.000 (Cr.) o Adjustments required to move from previous GAAP to IFRSs at the date of transition should be recognized directly in dividends True False