For an Asset to Be Defined as an Identifiable Intangible,AASB

question 47

Multiple Choice

For an asset to be defined as an identifiable intangible,AASB 138 Intangible Assets requires that it meet which of the following criteria?
I.It arises from a contractual or legal right.
II.Its fair value must be able to be reliably measured.
III.It is separable from the entity.
IV.Its cost must be reliably measurable.

• A)I or IV only
• B)I or II only
• C)II or III only
• D)I or III only

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Definitions:

Parietal Lobe

One of the four major lobes of the cerebral cortex in the brain, responsible for processing sensory information regarding the location of parts of the body, as well as interpreting visual information and processing language and mathematics.

Hippocampus

An essential part of the limbic system involved in forming new memories and connected to emotions and spatial orientation.

Memory for Places

The cognitive ability to recognize, recall, and navigate different locations and environments.

Visual Object Memory

Visual object memory pertains to the ability to recognize and remember visual images and objects.