For an Asset to Be Classified as an Identifiable Intangible

question 14

Multiple Choice

For an asset to be classified as an identifiable intangible, IAS 38 Intangibles requires that it meet which of the following criteria?
I) It arises from a contractual or legal right.
II) Its fair value must be able to be reliably measured.
III) It is separable from the entity.
IV) Its cost must reliably measurable.

• A) I or IV only;
• B) I or II only;
• C) II or III only;
• D) I or III only.

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Definitions:

Large Groups

An assembly of a significant number of individuals gathered for a specific purpose or activity.

Direct Quotations

The exact reproduction of another speaker's or writer's words, enclosed in quotation marks to distinguish the quoted material from the original text.

Objective Data

Information that is based on facts and observable phenomena, unaffected by personal feelings or opinions.

Severity

Severity describes the intensity or seriousness of a situation, condition, or effect, often used to assess the extent of impact or damage.