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PROBLEM 1: MULTIPLE CHOICE 1. According to PAS 38, intangible assets are measured as follows: Initial measurement Subsequent measurement fair value a. cost b. cost c. cost d. fair value cost model or revaluation model cost model or fair value model cost model or revaluation model

PROBLEM 1: MULTIPLE CHOICE 1. According to PAS 38, intangible assets are measured as follows: Initial measurement Subsequent measurement fair value a. cost b. cost c. cost d. fair value cost model or revaluation model cost model or fair value model cost model or revaluation model

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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PROBLEM 1: MULTIPLE CHOICE 1. According to PAS 38, intangible assets are measured as follows: Initial measurement Subsequent measurement fair value a. cost b. cost C. cost d. fair value cost model or revaluation model cost model or fair value model cost model or revaluation model 2. According to PAS 38, research and development costs incurred in self-generating an intangible asset are recognized as follows: Research costs a. expensed b. capitalized c. expensed d. expensed Development costs expensed capitalized capitalized expensed, but may be capitalized in some circumstances 3. According to PAS 38, which of the following intangible assets are not subsequently amortized? a. internally generated intangible assets b. intangible assets that were impaired c. intangible assets measured under the revaluation model d. intangible assets with indefinite useful life e. all intangible assets are amortized
Transcribed Image Text:PROBLEM 1: MULTIPLE CHOICE 1. According to PAS 38, intangible assets are measured as follows: Initial measurement Subsequent measurement fair value a. cost b. cost C. cost d. fair value cost model or revaluation model cost model or fair value model cost model or revaluation model 2. According to PAS 38, research and development costs incurred in self-generating an intangible asset are recognized as follows: Research costs a. expensed b. capitalized c. expensed d. expensed Development costs expensed capitalized capitalized expensed, but may be capitalized in some circumstances 3. According to PAS 38, which of the following intangible assets are not subsequently amortized? a. internally generated intangible assets b. intangible assets that were impaired c. intangible assets measured under the revaluation model d. intangible assets with indefinite useful life e. all intangible assets are amortized
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