Exam 11: Intangible Assets

Which of the following items would not meet the criterion of separability for identifiable intangible assets?

Intangible assets acquired in a business combination may be initially recognised at fair value.

The 2008 Discussion Paper on intangible assets published by the AASB proposes dividing internally generated intangibles into planned and unplanned assets.

Where an intangible asset has an indefinite useful life,there is no amortisation expense recorded.

Which of the following is an example of a development activity?

Unless acquired under a business combination,intangible assets must be initially measured using which of the following measurement approaches?

AASB 138 Intangible Assets requires that disclosures for each class of intangibles be distinguished from other disclosures.

Money held and assets to be received in fixed or determinable amounts of money are referred to as:

The unique characteristics of intangible assets raised by Lev (2001)do not include which of the following?

When determining the depreciable amount of an intangible asset with a finite useful life,the residual value is always assumed to be zero.

Which of the following is a technique proposed by the Initial Accounting for Internally Generated Intangible Assets Discussion Paper to account for internally generated intangibles?

Subsequent to initial recognition,AASB 138 Intangible Assets allows intangible assets to be measured under the cost model or revaluation model.

Subsequent expenditures on intangibles may be capitalised as part of the cost of the intangible item.

The recognition criteria for intangible assets under AASB 138 Intangible Assets is that same as in AASB 116 Property,Plant and Equipment.

Subsequent to initial recognition of an intangible asset,an entity may choose to measure the asset using either the:

The two gaps that frustrate attempts to recognise intangible assets are:

The factors that should be considered in determining the useful life of an intangible asset includes the expected use of the asset by the entity and whether the asset could be managed efficiently by another management team.

Paragraph 63 of AASB 138 Intangible Assets,prohibits the recognition of which of the following internally generated identifiable intangibles?

Which of the following is not a component of human capital?

In general,the principles of amortisation of intangible assets are the same as those for depreciating property,plant and equipment.