IAS 38 Intangibles, Requires That the Following Items in Relation

question 22

Multiple Choice

IAS 38 Intangibles, requires that the following items in relation to intangibles, each be disclosed separately:

• A) the opening balance of each intangible;
• B) the closing balance of each intangible;
• C) any impairment losses reversed in profit or loss during the period;
• D) all amounts of intangibles acquired during the period.

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Definitions:

United States

A country in North America consisting of 50 states and a federal district, known for its significant impact on global politics, economy, and culture.

Great Britain

The largest island in the British Isles, comprising the countries of England, Scotland, and Wales.

Amnesia

A condition involving the loss of memories, such as facts, information, and experiences, typically due to brain injury or psychological trauma.

Psychogenic

Originating from psychological causes rather than physical ones, often referring to symptoms or illnesses.