Multiple Choice
Which of the following statements regarding AASB 138 is incorrect?
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
Correct Answer:
Verified
Correct Answer:
Verified
Q15: Identify the tests contained in AASB 138
Q16: Which of the following is not included
Q17: Examples of expenditures that are not part
Q18: The future economic benefits expected,or hoped,to arise
Q19: Examples of intangible assets include:<br>A)intellectual property<br>B)customer lists<br>C)trademarks<br>D)all
Q20: Discuss the cost and revaluation models under
Q21: Original and planned investigation undertaken with the
Q22: According to AASB 138,an intangible asset is
Q24: A transaction or other event in which
Q25: When acquired in a business combination,the cost