CERTYNEX IFRS ACADEMY

Which of the following statements on the choice of measurement model for intangible assets are correct? More than one answer may be correct.

The choice between the cost model and the revaluation model is an accounting policy.

The model is chosen freely for each asset, independently of the others.

Under revaluation, the other assets in the class are also revalued, unless there is no active market.

Revaluation is mandatory for any asset traded on an active market.

An entity may measure all its intangible assets using the cost model.