IAS 38 Contains Some Elements That Seem to Be Reactions

question 45

Multiple Choice

IAS 38 contains some elements that seem to be reactions to opportunistic behaviour by preparers of accounts and to the degree of uncertainty surrounding goodwill as an unidentifiable intangible asset.These elements include:

• A)the prohibition on recording internally generated goodwill.
• B)the requirement to use a specific rate of amortisation.
• C)the specification of impairment testing.
• D)the prohibition on recording internally generated goodwill and the specification of impairment testing.

---

Definitions:

Gradualism

A theory in evolutionary biology that proposes changes occur slowly and gradually over long periods of time.

Modern Synthesis

Modern Synthesis is a scientific theory that combines Darwin's theory of natural selection with Mendelian genetics, serving as the foundation of contemporary evolutionary biology.

Population Genetics

The study of genetic variability in a population and of the forces that act on it.

Theory of Evolution

A scientific explanation for the diversity of life on Earth, proposing that species change over time through natural selection and genetic variation.