Question $5$

An entity may elect to measure a class of property, plant and equipment $($PPE$)$ at fair value, if fair value can be measured reliably. Which of the following statements is true about the use of the revaluation model?

The revaluations of all items of PPE within the same class can be performed at different time.

Both the revaluation increases, and revaluation decreases are recognised through profit and loss $($P&L$).$

The revaluation model requires annual revaluation, even if the value of PPE item is not volatile.

Under the revaluation model, the PPE continues to be depreciated $($based on the revalued amount$)$ and is subject to impairment.