Which of the following statements in relation to the use of the revaluation model to subsequently account for E&E assets is correct?
A) The revaluation model can only be used to account for tangible E&E assets.
B) The revaluation model can be used for intangible E&E assets where the fair value can be reliably measured.
C) The revaluation model can be used for tangible E&E assets only where there is an active market for the assets.
D) The revaluation model can be used for tangible E&E assets where the fair value can be reliably measured.
Correct Answer:
Verified
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