Choice "B" is correct. This is an incorrect statement. Under IFRS, if an individual fixed asset is revalued, then the entire class of fixed assets to which that asset belongs must be revalued. Individual fixed assets cannot be revalued alone.
Choice "a" is incorrect. This statement is correct. Revaluation gains are reported in other comprehensive income as revaluation surplus.
Choice "c" is incorrect. This statement is correct. Revaluation losses are reported on the income statement.
Choice "d" is incorrect. This statement is correct. IFRS require that revaluations be made with sufficient regularity to ensure that carrying amount does not differ materially from fair value.