Under IFRS, according to the revaluation model, an item of property, plant, and equipment must be carried at ?

C. Fair value minus any subsequent accumulated depreciation and impairment losses.

Option >>>>>>>>>>>>>>>>>>>>>>> C. Fair value minus any subsequent accumulated depreciation and impairment losses.

(C) is the Correct Ans.

Cost models describe that PP & E should be recognized at cost less and accumulated depreciation, But the revaluation model describe that PP & E should be recognized at Revalued amount. And the revalued amount is the fair value minus any subsequent accumulated depreciation and impairment losses.