Assume that after initial recognition, Blossom uses the revaluation model to measure its intangible assets. Which of the following statements is true regarding the revaluation model?
A. Intangible assets are carried at historical cost
B. Intangible assets are adjusted to fair value at each reporting date
C. Intangible assets are amortized over their estimated useful lives
D. Intangible assets are written off immediately upon recognition