IAS 38 permits the use of revaluation model for intangible assets if there is an active market to determine fair value.

Name: IAS 38 permits the use of revaluation model for intangible assets if there is an active market to determine fair value.
Brand: Quizplus
Rating: 4.9 (47 reviews)

Question

Quizplus · Accepted Answer

According to IAS 38, the revaluation model can be used to measure intangible assets that have a fair value that can be reliably determined, as long as there is an active market for the asset. Therefore, the statement is true.

IAS 38 Permits the Use of Revaluation Model for Intangible