Which of These Provisions of AASB 138 Is Inconsistent with the Asset

question 11

Multiple Choice

Which of these provisions of AASB 138 is inconsistent with the asset recognition criteria of the Framework?

• A) Reviewing the unamortised balance of goodwill annually and, to the extent it is no longer supported by probable future economic benefits, writing it down
• B) Recognising purchased goodwill as an asset
• C) Not recognising internally generated goodwill as an asset when the market value of an entity can be measured reliably
• D) Amortising goodwill

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Definitions:

Balance

The ability to maintain a stable and controlled body position while standing, moving, or performing tasks.

Birth Weight

The weight of a baby at the time of its birth, a critical indicator of neonatal health and developmental status.

Five Months

A period in infant development marked by emerging abilities such as better visual tracking, beginning of babble sounds, and increased physical activity like rolling over.

First Birthday

A significant milestone marking the completion of the first year of life, often celebrated with social and cultural ceremonies.