Multiple Choice
AASB 138 requires that entities classify their intangible assets into those with finite lives and those with indefinite lives.Which of these is a factor that tends to limit the useful life of intangible assets?
A) Technological obsolescence
B) Contractual and legal rights
C) Uncertainty
D) All are factors
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Which of the following is a necessary
Q3: When is goodwill recognised?<br>A) When an asset
Q4: Compare the costs likely to be recorded
Q5: Which accounting standard distinguishes between intangible assets
Q6: The main reason why accounting for intangible
Q7: AASB 138 prohibits recognising as intangible assets
Q8: The initial recognition of the costs associated
Q9: What two models are permitted by AASB
Q10: What criteria must be demonstrated by an
Q11: Which of these provisions of AASB 138