Which of the Following Statements Regarding AASB 138 Is Incorrect

question 14

Multiple Choice

Which of the following statements regarding AASB 138 is incorrect?

• A)it requires expenditure on research or on the research phase of an internal project must be expensed when incurred
• B)it specifically prohibits the recognition of internally generated brands,mastheads,publishing titles,customer lists and items similar in substance as intangible assets
• C)it allows,in certain circumstances,the recognition of an intangible asset arising from development or from the development phase of an internal project
• D)it allows expenditure on research or on the research phase of an internal project to be capitalised as an asset subject to certain criteria

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Definitions:

Likert Scales

A psychometric scale commonly used in questionnaires to measure attitudes, typically consisting of a series of statements that respondents may agree or disagree with.

Strongly Agree

An expression used to indicate complete alignment or concurrence with a statement or viewpoint.

Continuum

A continuous sequence in which adjacent elements are not perceptibly different, but the extremes are quite distinct.

Surveys

A research method involving the collection of data from a predefined group of respondents to gather information and insights about various topics.