A company has an independent appraisal showing that the value of its fixed asset investment is valued at an amount substantially above its current net book value (gross cost minus accumulated depreciation). The company desires to increase the value of its fixed assets to reflect the new value. In this situation: a)Revaluation is allowed by GMP but not IFRS b)Revaluation is not allowed under elther GAAP OR IFRS c)Revaluation is lowed IFRS, but not GAAP