U.S.GAAP permits firms to remeasure property, plant, and equipment upward for increases in fair value under certain conditions.

Name: U.S.GAAP permits firms to remeasure property, plant, and equipment upward for increases in fair value under certain conditions.
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U.S. GAAP does not allow for the revaluation of property, plant, and equipment to reflect increases in fair value; it requires assets to be carried at cost less accumulated depreciation and impairment losses.

USGAAP Permits Firms to Remeasure Property, Plant, and Equipment Upward