Which of the Following Attributes Does NOT Apply to Software

question 12

Multiple Choice

Which of the following attributes does NOT apply to software information assets?

• A) Serial number
• B) Controlling entity
• C) Manufacturer name
• D) Product dimensions

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Definitions:

AASB 116

Refers to the Australian Accounting Standards Board Standard 116, which outlines the accounting treatment for property, plant, and equipment, emphasizing recognition, measurement after recognition, and depreciation.

Property, Plant and Equipment

Long-term tangible assets used in the operation of a business and not intended for immediate sale.

Removal and Restorations Costs

The expenses associated with dismantling and removing an asset, and restoring the site on which it was located.

Development Phase

A stage in the lifecycle of a project or product focused on research, design, and development activities before commercial production begins.