AASB 136 Requires That

AASB 136 requires that:

A) If a non-current asset is revalued, the revalued amount may be less than the recoverable amount.
B) If a non-current asset is revalued, it must be revalued to the lower of current replacement cost or net realisable value.
C) If a non-current asset is revalued, it must be revalued to the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm's length transaction.
D) If a non-current asset is revalued, it must be revalued to the amount for which the asset could be realised in an active market in a liquidation sale.