Ch.9 - Intangible assets-tests

Question 1

Which of the following is not development?

Accepted Answer

The formulation and design of possible new or improved product or process alternatives

Answer

The design, construction and operation of a pilot plant that is not of a scale economically
feasible for commercial production

Answer

The design, construction and testing of a chosen alternative for new/improved materials

Question 2

Which of the following are development? Choose 2.

Accepted Answer

The design of tools, jigs, moulds and dies involving new technology

Accepted Answer

The design, construction and testing of a chosen alternative for new/improved materials

Answer

The search for product or process alternatives

Answer

The formulation and design of possible new or improved product or process alternatives

Question 3

Internally generated intangible assets may not generally be capitalised

Answer

true

Question 4

In order to recognise an asset as an intangible asset, the entity must demonstrate its ability to use and sell the intangible asset.

Answer

true

Question 5

The amortisation period and amortisation method should be reviewed on 31 December each year.

Answer

true

Fragen in diesem Quiz (5)