Question: How is the revaluation surplus handled under the revaluation model? Multiple Choice The revaluation surplus is an element of other comprehensive income in stockholders equity.

How is the revaluation surplus handled under the revaluation model?
Multiple Choice
The revaluation surplus is an element of other comprehensive income in stockholders equity. The revaluation surplus is transferred to retained earnings as the revalued asset is realized, either through its use or upon its disposal.
The revaluation surplus is included in net income and is transferred to retained earnings at the end of the period.
The revaluation surplus is not allowed under IFRS.
U.S. GAAP allows for the revaluation surplus to be included among assets.

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