A company follows IFRS and chooses to report certain generic intangible assets at fair value. On January 1, 2020, it acquires software for €300,000. Estimated life is 3 years, straight-line. On December 31, 2020, the intangible has a fair value of €330,000. How is this change in value reported on the 2020 financial statements?
A) Other comprehensive gain, €30,000
B) Gain on the income statement, €30,000
C) Other comprehensive gain, €130,000
D) Gain on the income statement, €130,000
Correct Answer:
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