Intangible Assets Are Not Depreciated Under AASB 116

question 33

Multiple Choice

Intangible assets are not depreciated under AASB 116:

• A) Because they do not have a finite life.
• B) They are now amortised under AAS 138, which provides specific guidance on intangibles.
• C) Intangible assets only appreciate and so cannot be depreciated.
• D) Intangibles are not physical assets and so are not subject to wear and tear.
• E) All of the given answers.

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