Intangible assets are those lacking physical form, such as patents and trademarks. Regarding the reporting of intangible assets in the balance sheet, we need to remember some relevant rules. Which of the following sentences is correct?

• a) Intangible assets must be reported as separated identifiable assets, and we can use either the cost model or the revaluation model for reporting according to US GAAP.

• b) Intangible assets cannot be reported as separated identifiable assets, and we can use either the cost model or the revaluation model for reporting according to US GAAP.

• c) Intangible assets can be reported as separated identifiable assets, and we can use either the cost model or the revaluation model for reporting according to IFRS.