In 2018, Mao Li Corporation Determined That a Production Machine

In 2018, Mao Li Corporation determined that a production machine used in its operations was impaired and an impairment loss of HK$110,000 was recognized. In 2019, the fair value of the asset increased by HK$170,000 due to an unexpected resurgence in demand for the products the machine was designed to produce. How would the gain due to increase in fair value be recognized in 2019 under IFRS?

A) IFRS permits the recognition of this impairment reversal as income from continuing operations.
B) IFRS permits the recognition of this impairment reversal as other comprehensive income.
C) IFRS allows the recognition of this impairment reversal as either income from continuing operations or as other comprehensive income, depending upon management's intent.
D) IFRS does not permit recognition of gains on reversal of previous impairment loss write-downs.