Consider the following statements relating to IAS 38 Intangible Assets:

1. Intangible assets are always initially measured at cost.

2. When measuring the fair value of intangible assets, it is always done in terms of an active market.

3. The two measurement models that may be used to subsequently measure intangible assets include the cost model and the fair value model.

4. The revaluation model is generally considered to be impractical for the subsequent measurement of intangible assets.

(Choose one correct option only)