When an item of property, plant and equipment is derecognised, the treatment of any revaluation surplus that relates to an asset includes _______. 1) debiting the revaluation surplus in the journal entry to record the profit or loss on sale of the asset 2) transferring the relevant amount out of the asset revaluation reserve and showing it as revenue in the income statement 3) transferring the revaluation surplus to retained earnings 4) writing off the amount out of the revaluation surplus against the remaining assets in the class of assets to which the asset that was sold belonged

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