Under AASB 138 Intangibles,an Intangible Asset with an Indefinite Useful

question 14

Multiple Choice

Under AASB 138 Intangibles,an intangible asset with an indefinite useful life is:

• A)not able to be recognised by an entity as an asset
• B)not subject to annual amortisation charges
• C)amortised using the straight-line method over a period of no more than 20 years
• D)amortised using the reducing balance method over a period not exceeding 5 years.

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Definitions:

Protestant Church

A Christian church that broke away from the Catholic Church in the 16th century, following the Reformation movements led by figures such as Martin Luther and John Calvin.

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The principle that individuals have the freedom to negotiate the terms of their contracts without excessive government interference.

Middle Border

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A type of crop grown primarily for sale to others rather than for personal or local consumption, often for profit.