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sir is this statement true in absolute sense or is relative?
“IAS 38 prohibits presenting proceeds from disposal of an intangible asset as revenue.”
i ask this cause it seems absolute. but i feel that a company may well have a business model, where it buys and sells goods in the ordinary course of its activities, to earn revenue, in which case it would make sense to record proceeds from sale of intangible asset as revenue…
your take on this sir?
If you are selling a NON CURRENT ASSET – it is not revenue