Under IFRS, Many Intangible Assets Are Expensed Instead of Capitalized

question 100

Multiple Choice

Under IFRS, many intangible assets are expensed instead of capitalized.Which of the following accounting principles is violated by this approach?

• A)Matching
• B)Materiality
• C)Revenue recognition
• D)Comparability

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Definitions:

Arbitrary Cutoff Number

A designated numerical limit set without a specific rationale or basis, often used for categorization or decision-making.

Decision Rule

A guideline or criterion for making a choice between alternatives, especially in analysis or planning.

Circuit Protection

Various methods or devices used to protect electrical circuits from excessive current, preventing damage and hazards.

Marker Lights

Lights mounted on the exterior of vehicles to indicate the vehicle's presence and dimensions to other road users.