IAS 38 Intangibles, Requires That an Intangible Asset with a Finite

question 11

Multiple Choice

IAS 38 Intangibles, requires that an intangible asset with a finite life:

• A) be amortised across its useful life;
• B) be amortised across a period of no greater than 20 years;
• C) not be amortised in periods when it is been properly maintained;
• D) not be subject to amortisation charges.

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Definitions:

Material Violation

A substantial breach of a contract or agreement that significantly undermines the contract's purpose or damages the interests of one of the parties involved.

Material Breach

a significant violation of a contractual agreement that permits the other party to the contract to demand remediation or terminate the agreement.

RMBCA

The Revised Model Business Corporation Act, which guides the incorporation and operation of corporations in many U.S. states.

Disinterested Directors

Board members who do not have a personal or financial interest in a corporate decision, ensuring unbiased governance.