The revaluation model requires all intangible assets in the same class to have a fair value determined by reference to an active market.

Question

Quizplus · Accepted Answer

The revaluation model for intangible assets requires that if an entity chooses to revalue an intangible asset, all assets in the same class must be revalued, and the fair value must be determined by reference to an active market.

The Revaluation Model Requires All Intangible Assets in the Same