CERTYNEX IFRS ACADEMY

The management of Halvérac is considering adopting the revaluation model for several intangible assets. Which statements are correct?

Halvérac may revalue the brand it created internally and has never recognised as an asset.

The model does not allow an intangible asset to be initially recognised at an amount other than its cost.

In some countries, freely transferable fishing licences may be traded in an active market.

The price recently paid for a comparable patent, in a privately negotiated sale, is enough to establish the fair value of Halvérac's patent.

An active market cannot exist for a brand, each brand being unique.