What criterion determines the use of the revaluation model for intangible assets?

The criterion for using the revaluation model for intangible assets is primarily centered on the existence of an active market. When an intangible asset is traded in an active market, it can be reliably valued, which provides a basis for its revaluation. An active market is characterized by a large number of transactions that occur frequently, enabling clear price determination and valuation of assets based on market forces.

In scenarios where a reliable market value cannot be established—due to the asset not being traded frequently or at all—the revaluation model cannot be applied effectively. Hence, the requirement for an active market serves as a crucial determinant for the revaluation model, ensuring that any increased value reflects true market conditions, thereby enhancing the reliability and relevance of financial statements.

The other options do not correctly reflect the fundamental principle behind the revaluation model for intangible assets. The presence of a buyer or the requirement for an asset to be amortised does not encompass the necessary conditions for revaluation. Moreover, suggesting that any type of intangible asset could qualify for this model overlooks the essential market-based valuation requirement, which is pivotal to applying the revaluation approach.