IAS 38 States That Intangible Assets

question 24

Multiple Choice

IAS 38 states that intangible assets:

• A)may not be revalued and must be amortised over their useful lives.
• B)are only able to be revalued if they have been internally generated and there is an active market for them.
• C)may only be revalued to their fair value as assessed by a licensed valuer.
• D)may be measured by using either the cost model or the revaluation model.

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Definitions:

Jim Crow Laws

Laws enacted in the Southern United States after the Civil War to enforce racial segregation and undermine the rights of African Americans.

De Jure Discrimination

Discrimination that is sanctioned or mandated by law or legal statutes.

Relational Model

Refers to an approach in various fields that prioritizes relationships and interconnectivity, focusing on how entities relate to one another.

Group Development

The process through which a group progresses over time through stages such as forming, storming, norming, performing, and adjourning.