CERTYNEX IFRS ACADEMY

Which of the following statements about internally generated brands, titles and customer lists are correct?

They are recognised as assets as soon as an expert reliably estimates their value.

They are not recognised as intangible assets.

Their cost cannot be distinguished from the cost of developing the business as a whole.

The legal registration of an internally created brand is enough to make it recognisable.

Advertising and promotional expenditure incurred to make them known is recognised as an expense.

As they are not recognised separately, they are grouped in an internally generated goodwill recognised as an asset.