AASB 138 States That Intangible Assets

question 9

Multiple Choice

AASB 138 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:

Function Header Line

A line at the beginning of a function definition that includes the function name, return type, and parameters.

Passing Data

The process of transferring data between different parts of a computer program or between different programs themselves.

Statement

An instruction in a computer program that performs a specific action.

Invoking A Function

The process of calling a function in a program to execute the set of instructions defined within it.