Which of the Following Statements Regarding AASB 138 Is Incorrect

question 23

Multiple Choice

Which of the following statements regarding AASB 138 is incorrect?

• A)intangible assets with a finite useful life must be amortised over the asset's useful life
• B)the useful life of an intangible asset may be influenced by both economic and legal factors
• C)the residual values of intangible asset having a finite useful life are always assumed to be greater than zero
• D)for an intangible asset that arises from contractual or other legal rights,its useful life cannot exceed the period of those rights

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Definitions:

Throughout The Brain

Pertains to processes, actions, or conditions affecting or involving the entire brain.

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A form of learning in which a neutral stimulus is paired with a response-producing stimulus until the neutral stimulus alone elicits the response.

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A large structure of the hindbrain that controls fine motor skills, balance, and coordination.

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A condition impacting the ability to read, marked by challenges in recognizing phonetic sounds and understanding their association with letters and words.