AASB 138 Intangibles Requires That an Asset Meet Which of the Following

question 3

Multiple Choice

AASB 138 Intangibles requires that an asset meet which of the following criteria to be classified as an identifiable intangible?
I. It arises from a contractual or legal right.
II. It is separable from the entity.
III. Its cost must be reliably measurable.
IV. Its fair value must be able to be reliably measured.

• A) I or IV only.
• B) I or II only.
• C) II or III only.
• D) I or III only.

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Definitions:

Peristalsis

Wavelike contractions that propel substances along a tubular structure such as the esophagus.

Constipation

Changes in the frequency of bowel movements that leads to the formation of hard, dry fecal material.

Diarrhea

Excessively frequent and watery bowel movements.

Chemical Breakdown

The process of breaking down compounds into smaller chemicals through chemical reactions.