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ACC210 Financial Accounting: Week 4, Intangibles, Quiz 1.3

Usuario eliminado 11 preguntas Actualizado el 2 sep 2017

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  1. 1Which intangibles can be revalued in Australia based on AASB 138?
    1. AExternal acquired goodwill
    2. BExternal acquired identifiable intangible
    3. CBoth 1 and 2
    4. DNeither 1 nor 2
  2. 2For which identifiable assets can an active market exist?
    1. ATaxi licences
    2. BBrands
    3. CPublishing rights
    4. DPatents
  3. 3The new accounting standard on intangible assets requires numerous disclosures for each class of intangible assets. Which of the following is not one of the required disclosures?
    1. AWhether the useful lives are indefinite or finite
    2. BThe amortisation methods used for intangible assets with finite useful lives
    3. CThe gross carrying amount and any accumulated amortisation (aggregated with accumulated impairment losses) at the beginning and end of the period
    4. DThe amount expended on intangible identifiable assets that cannot be deferred as an asset
  4. 4The new accounting standard on intangible assets requires certain disclosures in the financial statements. Which of the following is one of those disclosures?
    1. AReasons supporting the assessment of finite asset lives
    2. BA description, the carrying amount and the remaining amortisation period of individual intangible assets
    3. CThe existence and carrying amounts of intangible assets whose title is restricted
    4. DThe amount of contractual commitments for the disposal of intangible assets
  5. 5AASB 138 requires that expenditure on development may be deferred (capitalised) and recognised as an asset only if certain conditions are met. Which of the following is not one of the listed conditions?
    1. AIts intention to complete the intangible asset, and use or sell it
    2. BIts ability to use or sell the intangible asset
    3. CThe ability to accurately measure expenditure on the intangible asset during its development
    4. DThe technical feasibility of completing the intangible asset so that it will be available for use or sale
  6. 6Which of the following items of expenditure would be examples of development activities under AASB 138, Paragraph 59?
    1. AThe design, construction and testing of pre-production prototypes
    2. BThe design of moulds involving new technology
    3. CThe operation of a pilot plant that is not of a scale economically feasible for commercial production
    4. Dthe search for alternatives for materials, devices, products, processes, systems or services
  7. 7What is the test for recognising of development expenditure provided in AASB 138, when testing the qualifying criteria in paragraph 57?
    1. AExpected beyond reasonable doubt
    2. BSimple probability
    3. CVirtually certain
    4. DNone of the above
  8. 8The accounting standard provides details of a number of factors that need to be considered in determining the useful life of an intangible asset. Which of the following is not one of those factors?
    1. APrivate information on estimates of useful lives of similar types of assets that are used in a similar way
    2. BTypical product life cycles for the asset
    3. CThe stability of the industry in which the asset operates
    4. DThe level of maintenance expenditure required to obtain the expected future economic benefits from the asset.
  9. 9In relation to amortisation, the carrying amount of intangible assets with an infinite life must not exceed which of the following?
    1. AFair value
    2. BRecoverable amount
    3. CNet realisable value
    4. DNet present value
  10. 10How is goodwill measured?
    1. AThe excess of the cost of acquisition over the fair value of the identifiable net assets acquired
    2. BThe difference between the net present value of the assets and their book value
    3. CThe excess of the market value of the assets over the market value of the liabilities
    4. DAll of the above

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http://highered.mheducation.com/sites/0070277745/student_view0/chapter8/student_revision_quiz_8_3.html
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Creado el 2 sep 2017 · actualizado el 2 sep 2017
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