Which of the Following Statements Is NOT Correct

question 1

Multiple Choice

Which of the following statements is NOT correct?

• A) intangible assets are to be derecognised when there are no expected future benefits from the asset;
• B) amortisation of an intangible with a finite useful life does not cease when the asset becomes temporarily idle;
• C) amortisation of an intangible with an indefinite life does not cease when the asset is retired from active use;
• D) gains or losses on disposal are calculated as the difference between the proceeds on disposal and the carrying amount at point of sale, with amortisation calculated up to the point of sale.

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Definitions:

Self-reference Effect

A phenomenon where individuals are more likely to remember information that is personally relevant or related to themselves.

Personally Meaningful Memories

Memories that hold significant personal value and contribute to an individual's identity and sense of self.

Self-discrepancy Theory

A theory suggesting that psychological discomfort arises from differences between one's actual self, ideal self, and ought self.

Desired Selves

Represents an individual’s aspirations, goals, or ideal images of themselves that they strive to achieve or become.