An entity may elect to apply the revaluation model to measure the intangible asset at fair value
A) if an active market for the asset exists.
B) if the intangible asset's value is greater than its cost
C) if industry practice is to revalue intangible assets
D) if the revaluation is approved by the board of directors

Question

Quizplus · Accepted Answer

The revaluation model for measuring intangible assets at fair value can be applied if an active market for the asset exists, as this provides a reliable measure of the asset's fair value.

An Entity May Elect to Apply the Revaluation Model to Measure