Under IFRS, which assets may be revalued to fair value?

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Multiple Choice

Under IFRS, which assets may be revalued to fair value?

Explanation:
Under IFRS, you can revalue assets to fair value only for asset classes where there is an active market and a reliable fair value can be measured. That primarily includes land and buildings (which fall under property, plant and equipment) and certain intangible assets that have active markets. Current assets aren’t typically revalued to fair value, and while financial instruments can be measured at fair value under IFRS 9, that’s a separate measurement approach for financial assets rather than revaluing the asset itself. So the best choice is that land, buildings, and certain intangible assets may be revalued to fair value.

Under IFRS, you can revalue assets to fair value only for asset classes where there is an active market and a reliable fair value can be measured. That primarily includes land and buildings (which fall under property, plant and equipment) and certain intangible assets that have active markets. Current assets aren’t typically revalued to fair value, and while financial instruments can be measured at fair value under IFRS 9, that’s a separate measurement approach for financial assets rather than revaluing the asset itself. So the best choice is that land, buildings, and certain intangible assets may be revalued to fair value.

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