Which Statement Concerning the Accounting Treatment of Intangible Assets Under

Multiple Choice

Which statement concerning the accounting treatment of intangible assets under IAS 38/AASB 138 is correct?

A) Goodwill can be purchased or sold as a separate asset.
B) An intangible asset is defined as an asset without physical substance.
C) Any internally generated trademark or brand name can be recognised as an asset.
D) IAS 38/AASB 138 accepts the view that some intangible assets have unlimited lives and therefore should not be amortised.