Which of the following statements is true regarding revaluation of property, plant, and equipment to fair value?
A. Neither U.S. GAAP nor IFRS allows revaluation of property, plant, and equipment to fair value.
B. Both U.S. GAAP and IFRS allow revaluation of property, plant, and equipment to fair value.
C. Only U.S. GAAP allows revaluation of property, plant, and equipment to fair value.
D. Only IFRS allows revaluation of property, plant, and equipment to fair value.
Answer: D
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