For the internally developed brand with the satisfaction of 6 conditions in para. 57, an asset should not be recognized because the future benefit generated from the brand cannot be differentiated from the future benefit generated from the business operation as a whole.For the internally developed patent, the cost of training staff should not be capitalized because it is incurred for conducting the research activities.Goodwill is an intangible asset as it arises through a business acquisition and is expected to bring additional benefits to the entity.The cost of research activities can be capitalized if the six conditions in para. 57 are all satisfied.

Which of the following items quality as an intangible asset under PAS 38?Group of answer choicesOperating losses during the initial stages of the projectAdvertising and promotion on the launch of a huge productCollege tuition fees paid to employees who decide to enroll in an executive M.B.A. program at Harvard University while working with the companyLegal costs paid to intellectual property lawyers to register a patent

How should research costs related to the development of an intangible asset be treated?Group of answer choicesExpensed as incurredIncluded in the cost of the assetAmortizedCapitalized

The cost created for the rest of the firm as a consequence of undertaking a project isThe company weighted average cost of capitalAn opportunity costThe marginal cost of capitalThe project weighted average cost of capital

Certain intangible assets, which are not shown in the subsidiary's own statement of financial position, may be recognised independently from goodwill when a parent is assessing the assets of a possible subsidiary. Which of the following is an illustration of a subsidiary's intangible asset that can be recorded separately from goodwill for the purpose of creating consolidated financial statements? a.a global marketing effort that ended in the previous fiscal year and is anticipated to yield benefits in the future b.A subsidiary's contingent asset from which the parent anticipates a stream of future financial benefitsc.A client list that the directors cannot accurately valued.A recently launched research project that the parent company's board have consistently determined has a significant fair worth but which the subsidiary has accurately expensed to profit or loss

Which of the following is the MOST CORRECT combination of externally acquired intangible assets that could be recognised in a law firm’s financial statements?(i) Brand capital(ii) Data capital(iii) Mastheads(iv) Production capital(v) Relationship arrangements