When an asset has a gain on revaluation for an amount in the current year that is less than the amount of a loss on revaluation for that asset in a previous year, the gain on revaluation should be recorded:

Select one:

a. as an increase, after tax, in an asset revaluation surplus account.

b. partly in profit or loss (P/L) for the year as income, and the remainder in other comprehensive income (OCI).

c. in other comprehensive income (OCI).

d. in profit or loss (P/L) for the year as income.