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Under fair value revaluation, what happens if the fair value of a fixed asset exceeds its carrying amount? Question 1 options: A loss is recognized

Under fair value revaluation, what happens if the fair value of a fixed asset exceeds its carrying amount?

Question

1

options:

A loss is recognized in other comprehensive income.

A loss is recognized in the income statement.

A gain is recognized in the income statement.

A gain is recognized in other comprehensive income.

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