An Intangible Asset May Be Recorded

question 55

Multiple Choice

An intangible asset may be recorded.

• A) If acquired from an external party at a cost.
• B) If it is internally generated and fits the definition of an asset and meets the associated recognition criteria.
• C) At a value other than cost if that value more reliably records the worth of the intangible asset.
• D) At the cost of the asset, which must exclude any additional expenditure required to prepare the asset for use.
• E) If acquired from an external party at a cost, and at the cost of the asset, which must exclude any additional expenditure required to prepare the asset for use.