Under IAS38 the measurement of intangible assets subsequent to initial recognition must be measured by;
A)the cost model
B)the revaluation model
C)either the cost model or the revaluation model.
D)the same basis used when it was acquired.

Question

Quizplus · Accepted Answer

Under IAS38, intangible assets can either be measured at their cost or at a revalued amount. The choice between the cost model and the revaluation model is made based on the entity's accounting policy for that class of intangible assets. Therefore, the correct choice is C, as intangible assets can be measured by either the cost model or the revaluation model.

Under IAS38 the Measurement of Intangible Assets Subsequent to Initial