Revaluation Question

CFA Level I FRA
#1

Which of the following statements about upward revaluations of long-lived assets is most accurate?

a.)U.S. GAAP only allows reversal of impairment losses for assets held-for-sale.

b.)IFRS only allows increases in the value of long-lived assets to the extent of previously recognized revaluation losses.

c)Under IFRS, reversal of revaluation loss does not affect shareholders’ equity

I thought the answer is B. A is correct, can anyone explain why

#2

Under US GAAP, impairment of held-for-use assets cannot be reversed.

Under IFRS, revaluation can be above or below initial cost. Revaluations (and reversals thereof) below initial cost go through the income statement. Revaluations (and reversals thereof) above initial cost go direct to equity (in OCI). In either case, equity is affected.