If a company buys an intangible asset, it can only utilize the revaluation model to evaluate the asset's value later on.
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If a company buys an intangible asset, it can only utilize the revaluation model to evaluate the asset's value later on.
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- Under IFRS, a company that acquires an intangible asset may use the revaluation model for subsequent measurement only if a. The useful life of the intangible asset can be readily determined. b. An active market exists for the intangible asset. c. The cost of the intangible asset can be measured reliably. d. The intangible asset is a monetary asset.An entity that acquires an intangible asset may use the revaluation modelfor subsequent measurement only if A. The useful life of the intangible asset can be reliably determined.B. An active market exists for the intangible asset.C. The cost of the intangible asset can be measured reliably.D. The intangible asset is a monetary asset.Companies that acquire intangible assets under IFRS may only utilize the revaluation model if the useful life of the asset can be easily identified. b. The intangible asset has a thriving market for sale. You have a reliable way of calculating the intangible asset's cost. D. The intangible property consists of money.
- IFRS allows a corporation to utilize the revaluation model for future assessment only if the useful life of the intangible asset can easily be established. As a result, there is a healthy intangible asset market. c. The intangible asset's cost can be accurately calculated. It is a financial asset when an intangible asset is a monetary one.Depreciation is a process of asset valuation where an asset's book value (cost less accumulated depreciation) often approximates it fair value. Do you agree or disagree? Explain why or why not.Under IFRS, an entity that acquires an intangible asset may use the revaluation model for subsequent measurement only if The intangible asset is a monetary asset The cost of the intangible asset can be measured reliably The useful life of the intangible asset can be reliably determined An active market exists for the intangible asset
- Which of the following values for an intangible asset would a company capitalize and amortize? a.) purchase price b.) research costs c.) residual value d.) development costsIntangible assets can only be measured using the revaluation model if the acquiring entity:An entity that acquires an intangible asset may use the revaluation modelfor subsequent measurement only if
- Can the selection of a depreciation method affect a company’s asset replacement policy (i.e., the timing of its asset replacement)? If so, how?In which of the following situations would a cost incurred after an asset’s acquisition be capitalized? A.The useful life of the asset is increased. B.The amount of the expenditure must be immaterial. C.The expenditure is necessary to maintain the working order of the asset. D.There is no increase in the useful life of an asset.Explain the historical cost concept as it applies to long-term operational assets. Why is the book value of an asset likely to be different from the current market value of the asset?