AASB 138 Intangibles, Requires That an Intangible Asset with an Indefinite

question 21

Multiple Choice

AASB 138 Intangibles, requires that an intangible asset with an indefinite life:

• A) be amortised across its useful life.
• B) be amortised across a period of no greater than 10 years.
• C) not be amortised in periods when it has been properly maintained.
• D) not be subject to amortisation charges.

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Definitions:

Nodding

A physical gesture involving the lowering and raising of the head, typically used to signal agreement, acknowledgment, or understanding.

Empathetic

Showing an ability to understand and share the feelings of another, demonstrating compassion and comprehension.

Acknowledge

Recognition or acceptance of the truth or existence of something.

Cherished Beliefs

Cherished beliefs are deeply held convictions or values that an individual or group considers of paramount importance.