Which of the following statements is correct? a . Both IFRS and GAAP permit revaluation of property,

Question:

Which of the following statements is correct?
a. Both IFRS and GAAP permit revaluation of property, plant, and equipment and intangible assets (except for goodwill).
b. IFRS permits revaluation of property, plant, and equipment and intangible assets ( except for goodwill).
c. Both IFRS and GAAP permit revaluation of property, plant, and equipment but not intangible assets.
d. GAAP permits revaluation of property, plant, and equipment but not intangible assets.

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