Knowledge Check 01 Which of the following statements about the valuation of intangible assets (other than goodwill) are true? (Select all that apply.) Check All That Apply IFRS allows a company to value an intangible asset subsequent to initial valuation at (1) cost less accumulated amortization or (2) fair value, if fair value can be determined by reference to an active market. U.S. GAAP allow a company to value an intangible asset subsequent to initial valuation at (1) cost less accumulated amortization or (2) fair value, if fair value can be determined by reference to an active market. IFRS prohibits revaluation of any intangible asset. U.S. GAAP prohibits revaluation of any intangible asset