Which of the Following Statements Is Correct

question 8

Multiple Choice

Which of the following statements is correct?

• A) AASB 138 requires disclosures about an entity's intangible assets, with disclosures being made on an asset by asset basis
• B) Disclosures about the useful lives of intangibles are required with explanations being required where assets are assessed to have finite useful lives
• C) Where the cost model is used, specific disclosures are required including assumptions made on estimating fair values
• D) Separate disclosures are required for internally generated intangibles

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Definitions:

Output Device

Any device that takes data from a computer and converts it into a human-accessible form, such as a monitor, printer, or speaker.

Standard Desktop PC

A traditional personal computer designed for regular use at a single location on or near a desk due to its size and power requirements.

Weatherproof Connectors

Connectors designed to prevent the ingress of water, dust, and other environmental elements, ensuring reliable electrical connections in harsh conditions.

Breakout Box

An electrical/electronic diagnostic tool that can be T-connected into a multiple circuit for purposes of accessing circuit conditions with a DMM when the circuits are live.