Question 1

Original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding is known as:

Accepted Answer

A) research 
B) analysis 
C) development 
D) none of the above 
A) research 
B) analysis 
C) development 
D) none of the above

Question 2

According to AASB 138,an intangible asset is identifiable if it either:

Accepted Answer

A) is separable or arises from contractual or legal rights 
B) owned by the entity or arises from contractual or legal rights 
C) is separable or is owned by the entity 
D) none of the above 
A) is separable or arises from contractual or legal rights 
B) owned by the entity or arises from contractual or legal rights 
C) is separable or is owned by the entity 
D) none of the above

Question 3

Which of the following statements regarding AASB 138 is incorrect?

Accepted Answer

A) intangible assets with a finite useful life must be amortised over the asset's useful life 
B) the useful life of an intangible asset may be influenced by both economic and legal factors 
C) the residual values of intangible asset having a finite useful life are always assumed to be greater than zero 
D) for an intangible asset that arises from contractual or other legal rights,its useful life cannot exceed the period of those rights 
A) intangible assets with a finite useful life must be amortised over the asset's useful life 
B) the useful life of an intangible asset may be influenced by both economic and legal factors 
C) the residual values of intangible asset having a finite useful life are always assumed to be greater than zero 
D) for an intangible asset that arises from contractual or other legal rights,its useful life cannot exceed the period of those rights

Question 4

A transaction or other event in which an acquirer obtains control of one or more businesses is known as a/an:

Accepted Answer

A) business combination 
B) equity combination 
C) business consolidation 
D) demerger 
A) business combination 
B) equity combination 
C) business consolidation 
D) demerger

Question 5

When acquired in a business combination,the cost of an intangible asset is its:

Accepted Answer

A) carrying amount at the date of acquisition 
B) fair value at the date of acquisition 
C) recoverable amount at the date of acquisition 
D) none of the above 
A) carrying amount at the date of acquisition 
B) fair value at the date of acquisition 
C) recoverable amount at the date of acquisition 
D) none of the above

Original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding is known as:

According to AASB 138,an intangible asset is identifiable if it either:

Which of the following statements regarding AASB 138 is incorrect?

A transaction or other event in which an acquirer obtains control of one or more businesses is known as a/an:

When acquired in a business combination,the cost of an intangible asset is its:

The Nature and Environment of Companies

Company Formation, Share Capital and Debt Securities

Reserves and Profit Distribution

Published Financial Statements

Accounting for Company Income Tax

Property, Plant and Equipment

Leases

Business Combinations

Impairment of Assets

Additional Accounting Standards and Disclosures

Principles of Consolidation

Consolidation: Intragroup Transactions

Consolidation: Non-Controlling Interests

Consolidation: Indirect Non-Controlling Interests

Accounting for Associates

Accounting for Joint Ventures

Accounting for Foreign Currency

Capital Reorganisation

External Administration, Including Liquidation

Key Issues in Australian Corporate Governance

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Exam 8: Intangible Assets

Original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding is known as:

According to AASB 138,an intangible asset is identifiable if it either:

Which of the following statements regarding AASB 138 is incorrect?

A transaction or other event in which an acquirer obtains control of one or more businesses is known as a/an:

When acquired in a business combination,the cost of an intangible asset is its:

The Nature and Environment of Companies

Company Formation, Share Capital and Debt Securities

Reserves and Profit Distribution

Published Financial Statements

Accounting for Company Income Tax

Property, Plant and Equipment

Leases

Business Combinations

Impairment of Assets

Additional Accounting Standards and Disclosures

Principles of Consolidation

Consolidation: Intragroup Transactions

Consolidation: Non-Controlling Interests

Consolidation: Indirect Non-Controlling Interests

Accounting for Associates

Accounting for Joint Ventures

Accounting for Foreign Currency

Capital Reorganisation

External Administration, Including Liquidation

Key Issues in Australian Corporate Governance

Filters