A company uses IFRS and chooses to report certain generic intangible assets at fair value. On January 1, 2019, it acquires software for €100,000, with an estimated life of 4 years, straight-line. On December 31, 2019, the intangible has a fair value of €110,000. How is this change in value reported on the 2019 financial statements?
A) Other comprehensive gain, €10,000
B) Other comprehensive gain, €35,000
C) Gain on the income statement, €35,000
D) Not reported
Correct Answer:
Verified
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