Ali Brothers acquired an intangible assets and predicted that its useful life is indefinite. Which of the following statement is the correct description of amortization? O a. The acquired intangible assets by Ali Brothers can be amortized as per IAS 38. O b. The acquired intangible assets by Ali Brothers cannot be amortized as per IAS 38. O C.As per IAS 38 an intangible asset with indefinite life is tested annually for impairment not amortised. O d. The acquired intangible assets by Ali Brothers can be depreciated as per IAS 16.

Ali Brothers acquired an intangible assets and predicted that its useful life is indefinite. Which of the following statement is the correct description of amortization? O a. The acquired intangible assets by Ali Brothers can be amortized as per IAS 38. O b. The acquired intangible assets by Ali Brothers cannot be amortized as per IAS 38. O C.As per IAS 38 an intangible asset with indefinite life is tested annually for impairment not amortised. O d. The acquired intangible assets by Ali Brothers can be depreciated as per IAS 16.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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