AASB 138 Permits the Use of Revaluation Model for Intangible

question 54

True/False

AASB 138 permits the use of revaluation model for intangible assets if there is an active market to determine fair value.

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Definitions:

Marginal Revenue

The boost in income from the sale of an additional unit of a product or service.

Demand

The desire and willingness of consumers to purchase a particular good or service at various prices.

MC > MR

A condition where the marginal cost of producing an additional unit is greater than the marginal revenue earned from selling it, suggesting a decrease in production might increase profit.

Profit

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.