Which of These Is Not Correct Under AASB 138 Concerning

question 32

Multiple Choice

Which of these is not correct under AASB 138 concerning the measurement of intangible assets subsequent to acquisition?

• A) If the revaluation model is used, amortisation is not required even if the useful life of the asset is finite
• B) With both the cost and the revaluation models, all assets should be regularly tested for impairment
• C) If the cost model is used, amortisation is required if the useful life of the asset is finite
• D) The revaluation model is only permitted to be used if there is an active market for the asset

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Definitions:

Epinephrine

A hormone also known as adrenaline, secreted by the adrenal glands, increasing heart rate and blood pressure during stress.

Arousal

A physiological and psychological state of being awake or reactive to stimuli, often involving heightened physical activity and alertness.

Leptin

A hormone produced by adipose cells that helps to regulate energy balance by inhibiting hunger, thereby helping to regulate body weight.

Two-Factor Theory

A theory that asserts emotion arises from physiological arousal followed by a cognitive label of that arousal, proposed by Stanley Schachter and Jerome E. Singer.