IAS 38 Will Permit Some Intangible Assets to Be Revalued

question 32

True/False

IAS 38 will permit some intangible assets to be revalued upwards only when there is an 'active market' for the asset.

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Definitions:

Expansion

Expansion refers to the process of growing or enlarging the scale, scope, or reach of something, such as a business, territory, or concept.

Limited Partnership

A partnership formed by two or more persons having one or more general partners and one or more limited partners.

Defendant

The person against whom a lawsuit is brought and from whom recovery is sought.

Certificate

A document officially recognizing a certain fact, achievement, or qualification.