AASB 138 Intangibles,requires That an Intangible Asset with a Finite

question 5

Multiple Choice

AASB 138 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.

Utilize the complement method to calculate the remittance amount when a discount is taken.

Compute the unpaid balance of an invoice after a partial payment within the discount period.

Analyze and apply cash discount terms to real-life business scenarios.

Perform calculations involving the return of merchandise and its impact on the invoice total and discounts.

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Definitions:

Hardware

A device such as a processor, monitor, keyboard, or printer. Together, these devices accept, process, and display data and information.

Open Source

Pertaining to software for which the original source code is made freely available and may be redistributed and modified.

License Terms

The legal terms and conditions that govern the use of software, specifying how it can be used, any limitations, and the rights of the user and the provider.

Cost

The amount of money required to purchase something or the expense incurred to create a product or service.