A business uses the straight-line method to charge depreciation on its property. At the beginning of the year, the property was revalued upwards, with the remaining useful life unchanged. Compared with the previous year, how do the expenses and the carrying value of the property at the end of the current year change?
- Aexpenses: decrease; carrying value of property: decrease
- Bexpenses: decrease; carrying value of property: increase
- Cexpenses: increase; carrying value of property: decrease
- Dexpenses: increase; carrying value of property: increase