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.

---

Definitions:

Meager Wages

Very small or insufficient amounts of pay received for work done, often highlighting issues of poverty and economic inequality.

Legal Definition

A precise, formal description of a term or concept within the context of the law, which determines its meaning and application in legal documents and proceedings.

House of Burgesses

The first legislative assembly of elected representatives in North America, established by the Virginia Company in 1619, laying foundations for democratic governance.

James I

James I was the King of England from 1603 to 1625, known for his authorization of the King James Version of the Bible and for his rule that led to increased tensions between the monarchy and Parliament.