Exam 9: Intangible Assets

Which of the following assets is regarded as meeting the identifiability criteria for recognition as an identifiable intangible asset that may be acquired in a business combination?

For the purposes of determining the fair value of an asset in an active market,an active market is defined in AASB 138 Intangibles,as one that has all of the following conditions: I II III IV The items traded in the market are homogeneous Yes Yes No Yes Willing buyers and sellers can normally be found No Yes No Yes Prices are available to the public Yes No Yes Yes

Wojtowicz Limited was involved in a mining exploration business.It commenced a project to design more efficient gold detecting equipment.The following expenditures occurred during the financial year ended 20X1: Researcher's salary $5000 Research consumables $3000 Re-development of the detecting equipment $4000 Final adjustments to the detecting equipment $2500.The amount to be capitalised by this company as an intangible asset,for the 20X1 financial year,is:

A key characteristic that separates assets such as property,plant and equipment from intangible assets is:

Which of the following assets is regarded as meeting the identifiability criteria for recognition as an identifiable intangible asset that can be recorded as acquired in a business combination?