Intangible Assets Without a Limited Useful Life Cannot Be Recorded

question 30

True/False

Intangible assets without a limited useful life cannot be recorded under AASB 138 as they cannot be amortised.

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Definitions:

Exposure And Response Prevention Therapy

A form of cognitive-behavioral therapy aimed at reducing compulsive behaviors by encouraging patients to confront their fears and decrease their sensitivity to them.

Obsession

Persistent and intrusive thoughts, impulses, or images that cause significant anxiety or distress.

Compulsions

Repetitive behaviors or mental acts that an individual feels driven to perform in response to an obsession, or according to rules that must be applied rigidly.

Repetitive Behaviors

Actions performed over and over again, which can be a characteristic of certain psychological conditions, such as OCD.