Under AASB 138 Intangibles, an Intangible Asset with an Finite

question 12

Multiple Choice

Under AASB 138 Intangibles, an intangible asset with an finite useful life is:

• A) not able to be recognised by an entity as an asset.
• B) not subject to annual amortisation charges.
• C) amortised using the straight-line method over a period of no more than 20 years.
• D) amortised systematically over its useful life.

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Definitions:

Workspace

An area or virtual interface where individuals perform their tasks, often equipped with tools and resources necessary for their work.

All-In-One

A category of products or devices that combine multiple functionalities or components into a single unit, often used for printers or computers.

Smartphone

A mobile phone that performs many of the functions of a computer, typically having a touchscreen interface, internet access, and an operating system capable of running downloaded apps.

Camera

A device used to capture images or videos, either as analog or digital data.