AASB 138 permits the use of revaluation model for intangible assets if there is an active market to determine fair value.

Question

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According to AASB 138, an entity can choose to use the revaluation model for intangible assets if there is an active market to determine fair value. However, the entity must apply the revaluation model to the entire class of intangible assets to which the asset belongs.

AASB 138 Permits the Use of Revaluation Model for Intangible