At the year end the company management decided to value the worth of its own brand. The worth of the company's own brand was estimated to be OMR 100,000. Which of the following statement is correct description of recognition of the own brand value in the statement financial position? O a. The value of brand is expensed as per IAS 2. O b. Internally generated brand cannot be recognized as intangible as per IAS 38. Oc The value of brand is capitalised as per IAS 16. O d. The value of the brand is recognised in the statement of financial position and amortised as per IAS 38.
At the year end the company management decided to value the worth of its own brand. The worth of the company's own brand was estimated to be OMR 100,000. Which of the following statement is correct description of recognition of the own brand value in the statement financial position? O a. The value of brand is expensed as per IAS 2. O b. Internally generated brand cannot be recognized as intangible as per IAS 38. Oc The value of brand is capitalised as per IAS 16. O d. The value of the brand is recognised in the statement of financial position and amortised as per IAS 38.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:At the year end the company management decided to value the worth of its own brand. The worth of the company's own brand was estimated to be
OMR 100,000. Which of the following statement is correct description of recognition of the own brand value in the statement of financial position?
O a. The value of brand is expensed as per IAS 2.
O b. Internally generated brand cannot be recognized as intangible as per IAS 38.
O c The value of brand is capitalised as per IAS 16.
Od. The value of the brand is recognised in the statement of financial position and amortised as per IAS 38.
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