When can internally developed intangible assets be capitaliz…
When can internally developed intangible assets be capitalized? (max. 35 words)
When should a full impairment review be carried out?
(A) When circumstances indicate that an impairment may have occurred
(B) When the directors want to reduce the value of their assets
(C) When the book value of assets seems too high
(D) Every 5 years
Purchased goodwill is defined by IAS 38 as:
(A) The amount paid for intangible assets
(B) The difference between the balance sheet value and the amount paid for the business
(C) The difference between the fair value of the tangible non-current assets acquired and the amount paid
(D) The difference between the cost of the acquisition and the fair values of the net assets acquired Which of the following can be capitalised and carried forward in the balance sheet as an asset:
(A) a payment of $10,000 to XY University for original research
(B) $50,000 spent on applied research to develop a new discovery into a possible new product
(C) $22,000 being the cost of developing a new product for final launch on the market. The product is expected to be profitable
(D) $17,000 the cost of developing a product that was then found to be non-viable
