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:

Robert Altman

An influential American film director, known for his naturalistic and complex ensemble films.

Filmmaker

An individual who directs or produces movies for cinema or television.

Comma Rule

Guidelines dictating the use of commas in sentences for purposes such as separating items in a list, joining independent clauses, or marking off clauses, phrases, or words that are not essential to the sentence's meaning.

Series

A sequence of related events, objects, or numbers following a particular pattern or order.