CERTYNEX IFRS ACADEMY

Agri-Quotas Ouest has opted for the revaluation model for its class of production quotas, most of which are traded on an active market. Which of the following statements are correct?

A quota without an active market is revalued using a cash-flow valuation, so that the whole class is carried at fair value.

All the quotas in the class that have an active market are revalued, not a selection of them.

A revalued quota is no longer amortised after the revaluation date.

A quota in the class without an active market is carried at cost less accumulated amortisation and impairment losses.

The revaluation surplus relating to the quotas is disclosed only at the end of the period.

The notes disclose, for the class, the carrying amount the revalued quotas would have under the cost model.