Chartered Financial Analyst Level 1
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A copyright with an active market and a finite life, used in a company's operations over multiple fiscal periods, is reported under U.S. GAAP using:
Explanation:
Under U.S. GAAP, companies are mandated to use the cost model for valuing intangible assets. While IFRS permits the use of either the cost model or the revaluation model (provided there is an active market for the intangible asset), U.S. GAAP does not allow the revaluation model. Therefore, the correct answer is A, as the revaluation model is not permissible under U.S. GAAP.