CERTYNEX IFRS ACADEMY

The regulator grants the operator Telvio, by way of a government grant, a licence to use radio frequencies. Which statements are correct?

Telvio must recognise the licence at its fair value.

Telvio may recognise the licence and the grant at fair value.

Telvio may recognise the licence at a nominal amount plus the expenditure directly attributable to preparing it.

A licence received for no consideration can never be recognised as an intangible asset.

These options also apply if Telvio pays a nominal price for the licence.