Multiple Choice Questions According to IAS 38 Intangible assets, which of the following statements about research and development expenditure are correct? i. If certain conditions are met, an entity may decide to capitalise development expenditure. ii. Research expenditure, other than capital expenditure on research facilities, must be written off as incurred. III. Capitalised development expenditure must be amortised over period not exceeding 5 years iv. Capitalised development expenditure must be disclosed in the statement of financial position under intangible non-current assets. O, and iv O and ill only On and iv only Owl and iv only Next question

Multiple Choice Questions According to IAS 38 Intangible assets, which of the following statements about research and development expenditure are correct? i. If certain conditions are met, an entity may decide to capitalise development expenditure. ii. Research expenditure, other than capital expenditure on research facilities, must be written off as incurred. III. Capitalised development expenditure must be amortised over period not exceeding 5 years iv. Capitalised development expenditure must be disclosed in the statement of financial position under intangible non-current assets. O, and iv O and ill only On and iv only Owl and iv only Next question

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The acquisition of capital assets by a special revenue fund would be shown as: O a. long term asset O b. short term asset (supplies) O c. expenditure O d. cannot have capital acquisitions in governmental funds Oe. expense
Describe how the recognition and measurement requirements for Intangible Assets under AASB 138 differ from the recognition and measurement principles outlined for assets under the (revised) Conceptual Framework and explain the reasons why these differences may exist. Refer to AASB 138 and Conceptual Framework where appropriate (max. 250 words).
question 42 choose the correct answer from the choices
Which of the following is not a capital expenditure decision Select one: a. Improvement in fixed asset b. Purchase of goodwill c. None of the options d. Replacement in fixed asset e. R&D Expenditure
Describe how IFRS and U.S. GAAP treat increases in the value of plant assets subsequent to their acquisition (but before their disposition).
Research and development is an internally developed intangible asset that should be: capitalized and amortized over its finite life. capitalized and reviewed for impairment over its indefinite life. expensed as incurred. treated differently from any of these choices.
If the criteria are met after the end of reporting period, an undertaking shall: A. Classify a non-current asset as ‘discontinued operations’ in those financial statements B. When those criteria are met, after the end of reporting period, but before the approval of the financial statements for issue, the undertaking shall disclose the information in the notes C. Classify a non-current asset as ‘held for sale’ in those financial statements d. It depends
snju