10135642
Descripción
Test por Luke Hodges, actualizado hace más de 1 año
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Creado por Luke Hodges
hace más de 6 años
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Pregunta 1
Pregunta
Once an intangible asset has been acquired and made ready for use, any subsequent expenditure will be expensed unless:
Respuesta
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The expenditure is of an external nature
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It is virtually certain that the expenditure will increase the future economic benefits embodied in the asset
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The expenditure can be measured reliably and directly attributed to the asset
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None of the above
Pregunta 2
Pregunta
For which intangible can costs written off in one period be reinstated in a subsequent period, if recognition and measurement factors change?
Respuesta
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Goodwill
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Unidentifiable intangibles
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Development costs
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No intangibles
Pregunta 3
Pregunta
Expenditure on certain internally generated identifiable intangibles is specifically excluded from being recognised as intangible assets. Which of the following are not specifically identified?
Respuesta
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Brand names
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Mastheads
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Copyright
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Customer lists
Pregunta 4
Pregunta
The life of an intangible asset is expressed in terms of which of the following?
Respuesta
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Entity life
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Economic life
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Useful life
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Legal life
Pregunta 5
Pregunta
In amortising identifiable intangibles, what factor(s) should be reviewed on an annual basis?
Respuesta
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Commercial life
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Amortisable (depreciable) amount
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Cost consumption pattern (amortisation method)
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All of the above
Pregunta 6
Pregunta
Where an intangible asset is considered to have an __________________ life, there is no requirement to amortise the asset. What is the missing term based on AASB 138?
Respuesta
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Infinite
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Indefinite
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Material
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Unlimited
Pregunta 7
Pregunta
Under AASB 138, the residual value of an identifiable intangible is assumed to be zero unless certain conditions are met. Which of the following represents one of those conditions?
Respuesta
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There is a commitment by a third party to purchase the asset at the end of its useful life.
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The residual amount can be determined by reference to an active market that probably will still be in existence at the end of the asset's useful life.
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Both 1 and 2.
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Either 1 or 2.
Pregunta 8
Pregunta
Which of the following statements is correct in relation to the impairment test for identifiable intangibles?
Respuesta
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It relates to identifiable intangible assets deemed to have an infinite life.
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It relates to all identifiable intangible assets.
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It applies where an asset's carrying amount exceeds its fair value.
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It applies where an asset's recoverable amount exceeds its carrying amount.
Pregunta 9
Pregunta
In relation to the amortisation of deferred development expenditure, which of the following applies under AASB 138?
Respuesta
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The amortisation period is a maximum of 20 years.
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The straight-line method of amortisation must be used.
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The amortisation shall reflect the pattern of economic benefits consumed.
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It commences with commercial production of the product resulting from research and development.
Pregunta 10
Pregunta
Complete the following definition of an 'active market' from AASB 138: 'A market exhibiting all of the following: the items traded are ____________; ___________ buyers and sellers can normally be found; and prices are _________ available.'
Respuesta
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homogeneous; willing; publicly
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material; knowledgeable; readily
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heterogeneous; numerous; always
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equivalent; sufficient; privately
Pregunta 11
Pregunta
Can intangible assets be revalued under AASB 138?
Respuesta
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No.
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Yes, if they are classified as identifiable.
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Yes, if they are externally acquired.
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Yes, if they are externally acquired and there is an active market.
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