Moodle Chapter 6 Intangible Assets

Which of the following is an expenditure that can be included in intangibles.

Design of tools involving new technology

How is IAS36 applied on intangible assets with indefinite useful lives?

Should be reviewed for impairment

Explain the term “separable” in relation to intangible assets.

It can be separated from the entity and sold

Why is internally generated goodwill not accepted as an asset?

It is impossible to determine the cost

Why is it difficult to recognize internally generated intangible assets?

It is problematic to establish if it will generate future economic benefits

How is goodwill in a business combination (IFRS3) calculated?

The price paid for the business, less the net asset value of identifiable assets/liabilities

Which are the two criteria which must be fulfilled to be able to recognize an (intangible) asset?

It must be a future economic benefit and the company must have control

Which of the following is NOT activities that arises in the development phase?  

Research of new diseases