Which of the Following Statements Is Incorrect

Multiple Choice

Which of the following statements is incorrect?

A) Under the revaluation model, the carrying amount of property, plant and equipment is adjusted to reflect its fair value.
B) With the revaluation model, revaluation gains are recorded in Other Comprehensive Income.
C) Companies can choose to use the cost model or the revaluation model for property, plant and equipment.
D) Reversals of revaluation gains or write-ups are prohibited.