PAS 38 applies Group of answer choicesa. Intangible assets held by an entity for sale in the ordinary course of business.d. Computer software used in extractive industries.b. Goodwill acquired in a business combination.C. Non-current intangible assets classified as held for sale.

PAS 38 prescribes the accounting treatment for intangible assets that are not dealt with specifically by another standard. However, Goodwill is covered by PFRS 3: Business Combination.Group of answer choicesFalseTrue

The key distinguishing factor between goodwill and intangible assets recognised under AASB 138: Intangible Assets is:Group of answer choicesidentifiabilitycontrolexistence of future economic benefitsnon-monetary natureNext

Under IFRS, which of the following is classified as an intangible asset?a.Buildingsb.Landc.Goodwilld.InventoryClear my choice

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

Under AASB 138 Intangible Assets, which of the following would be recognised as an intangible asset?Group of answer choicesAnnual fees to maintain a customer list originally developed by a companyAmount paid to a competitor to acquire the copyright for a screen playAn impairment loss due to declining circulation rates of a mastheadSubsequent expenditure on the internally generated “Big X” brandname