The Criteria in AASB 138 Identified as Being Necessary for an Intangible

question 8

Multiple Choice

The criteria in AASB 138 identified as being necessary for an intangible asset arising from development to be recognised include:

• A)the entity's ability to use or sell the intangible asset
• B)the entity's intention to complete the intangible asset and use or sell it
• C)the entity's ability to measure reliably the expenditure attributable to the intangible asset during its development
• D)all of the above

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Definitions:

Affluent

Characterized by having a great deal of wealth; referring to individuals or areas with high levels of income or assets.

Pressure Group System

Networks of interest groups or lobbying organizations that seek to influence public policy and government decisions without seeking elected office.

Pluralist Theory

A political theory suggesting that power in a democracy is distributed among multiple interest groups, ensuring that no single group dominates the political process.

Corporate Lobbies

Groups funded by corporations that seek to influence lawmakers and government policy decisions in a direction favorable to their interests.