Under IFRS, which of the following statements best describes the accounting for intangible assets after acquisition?
A) They may be accounted for under either the cost model or the revaluation model.
B) They should be accounted for under the cost model.
C) They should be accounted for under the revaluation model if an active market exists for the asset.
D) They should always be accounted for under the revaluation model.

Question

Quizplus · Accepted Answer

The Answer of Under IFRS, which of the following statements best describes the accounting for intangible assets after acquisition?
A) They may be accounted for under either the cost model or the revaluation model.
B) They should be accounted for under the cost model.
C) They should be accounted for under the revaluation model if an active market exists for the asset.
D) They should always be accounted for under the revaluation model.

Under IFRS, Which of the Following Statements Best Describes the Accounting