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 true?

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