When Subsequent Expenditure on Intangible Assets Are Incurred,the Costs Are

question 45

Multiple Choice

When subsequent expenditure on intangible assets are incurred,the costs are:

• A)debited to the retained earnings account.
• B)transferred to a revaluation reserve account.
• C)capitalised as part of the cost of the asset.
• D)immediately expensed,rather than being capitalised.

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Definitions:

Ratify

To officially approve or confirm an agreement or treaty, making it formally valid.

Unauthorized Act

An action that is taken without official permission, approval, or authority.

Criminal Liability

The legal responsibility a person or entity has for committing an act that is considered a crime by law.

Employer

An individual or organization that hires and pays people to perform work or provide services.