Which of the Following Statements Is NOT Correct

question 9

Multiple Choice

Which of the following statements is NOT correct?

• A) intangible assets are to be derecognised on disposal;
• B) amortisation of an intangible with a finite useful life ceases when the asset becomes temporarily idle;
• C) intangible assets are to be derecognised when there are no expected future benefits from the asset;
• 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:

Political Integration

The process of combining different political entities, often sovereign states, into a single political unit or organization to achieve greater stability and governance.

Common Currency

A currency that is used by multiple countries, facilitating trade and economic policy coordination.

Foreign Subsidiary

A company that is based in one country but is owned or controlled by a parent company from another country.

Reshoring

What occurs when firms move jobs back home from foreign locations.