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Question

Under Ind AS, when an entity adopts revaluation model for property, plant & equipment:

A Revaluation surplus is recognised in profit & loss directly

B Revaluation surplus is credited to revaluation reserve in equity unless reversing prior deficit charged to P&L

C Revaluation always goes to reserves and never to P&L

D Revaluation is prohibited under Ind AS

E Revaluation surplus reduces retained earnings

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