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When using the revaluation model of accounting for PP&E assets (asset-adjustment or elimination method), O the related Accumulated Depreciation account is closed to OCI. O

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When using the revaluation model of accounting for PP&E assets (asset-adjustment or elimination method), O the related Accumulated Depreciation account is closed to OCI. O the difference between fair value and book value is always debited to Revaluation Surplus (OCI). a new depreciation rate must be calculated. O depreciation continues to be charged in the original pattern

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