AASB 138 Permits Two Bases for Measuring Intangible Assets,subsequent to Initial

question 31

Multiple Choice

AASB 138 permits two bases for measuring intangible assets,subsequent to initial recognition,the cost model and the revaluation model:

• A) in practice the revaluation model is the one that is most commonly applied
• B) the conditions for the use of the revaluation model will only be met on rare occasions
• C) in practice the two models are applied about 50/50
• D) none of the above

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Definitions:

Retiring Employees

Individuals who leave their jobs and cease to work typically due to age or health reasons, entering a period of retirement.

Occupation

A person's regular employment or profession, which is often used to identify one's role in society or the economy.

Work Arrangements

The terms and conditions under which work is performed, including aspects like scheduling, location (remote or on-site), and hours.

Outsources

The practice of hiring third-party companies or individuals to perform tasks, handle operations or provide services that are either difficult to manage or are outside the core business expertise.