Consider the situation where an entity is recording a revaluation decrement in relation to a depreciable non-current asset that was previously revalued upwards under AASB116. Select all of the following statements that apply:

Select one or more:

1.Accumulated depreciation will need to be written-back against the non-current asset.

2.A deferred tax asset (DTA) will be created.

3.If the decrease is less than the previous increase in value, profit/loss will not be affected.

4.Any decrease in excess of the previous increase in value will be treated as a loss on revaluation.

5.The carrying amount and tax base will become closer.