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State whether each of the following statements is true or false.
Statement 1 If the revaluation model is used for property, plant and equipment, all items of property, plant and equipment must be subject to revaluation.
Statement 2 When an item of property, plant and equipment is revalued, it is compulsory to make the annual transfer of excess depreciation within equity.Why both are false according to me 1 should be true
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