10132122
Descripción
Test por Luke Hodges, actualizado hace más de 1 año
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Creado por Luke Hodges
hace alrededor de 7 años
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Pregunta 1
Pregunta
The two key characteristics of intangible assets are that they are identifiable and that they:
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have physical substance;
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lack physical substance;
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are monetary assets;
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represent current obligations of the entity.
Pregunta 2
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The concept that distinguishes other intangible assets from goodwill is:
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length of useful life;
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lack of physical substance;
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identifiability;
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materiality.
Pregunta 3
Pregunta
Items such as market knowledge, effective advertising programs, fundraising capabilities and trained staff are not regarded as assets because they:
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are not controlled by the entity;
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are monetary items;
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cannot be measured;
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are too difficult to manage.
Pregunta 4
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Under AASB 138 all expenditure on research activities must be:
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capitalised as a current asset;
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capitalised as an intangible asset;
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recognised directly in retained earnings;
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expensed.
Pregunta 5
Pregunta
The recognition criteria that an asset must meet before it may be recognised and presented in the financial statements include:
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that the recognition of the asset is relevant to user decision making;
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that the information about the asset is neutral;
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a probability that future economic benefits will flow to the entity;
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a likelihood that the cost of the asset is verifiable.
Pregunta 6
Pregunta
When measuring an intangible asset initially, which of the following valuation methods must be used?
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acquisition price;
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cost;
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fair value;
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market value.
Pregunta 7
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The cost of an intangible asset is comprised of the fair value of the consideration:
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less legal costs incurred in the purchase;
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plus indirect costs;
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less directly attributable costs;
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plus directly attributable costs.
Pregunta 8
Pregunta
An intangible asset acquired through a business combination is initially measured at:
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fair value;
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cost;
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net present value;
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realisable value.
Pregunta 9
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Internally generated goodwill:
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can be recognised when it is acquired as part of a business combination;
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cannot be measured;
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cannot be recognised;
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is not identifiable.
Pregunta 10
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The original and planned investigation undertaken with the prospect of gaining new knowledge is described as:
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exploration;
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research;
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development;
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investigation.
Pregunta 11
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When a continuing project moves beyond the research stage it moves into a stage known as:
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acquisition;
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exploration;
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development;
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combination.
Pregunta 12
Pregunta
From an accounting perspective, expenditure on development is:
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expensed as incurred;
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capitalised as an intangible asset;
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regarded as a contingent asset and not capitalised;
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recognised directly as a part of equity.
Pregunta 13
Pregunta
When deciding whether to capitalise development expenditure as an intangible asset which of the following points must be satisfied? An entity must be able to demonstrate:
I. Its ability to sell the intangible asset.
II. Its intention to complete the intangible asset.
III. The technical feasibility of completing the intangible asset.
IV. Its ability to reliably measure the expenditure attributable to the intangible.
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I, II and IV only;
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I, III and IV only;
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II, II and IV only;
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I, II, III and IV.
Pregunta 14
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When capitalising development costs an entity:
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may include all previous costs whether written off or current period costs;
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may include all indirect and directly attributable costs;
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may not reinstate any previously expensed costs;
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may capitalise the sum of all related research and development costs.
Pregunta 15
Pregunta
Which of the following intangibles may be capitalised by an entity?
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Goodwill acquired in a business combination;
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Internally generated mastheads;
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Publishing titles developed within the entity;
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Customer lists produced by the entity's marketing division.
Pregunta 16
Pregunta
Johnson Limited spent the following amounts on an engineering project: $10 000 on research salaries; $15 000 on equipment for a research laboratory; $30 000 on project development costs; and $6 000 on marketing costs. The amount that may capitalised is:
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$61 000;
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$51 000;
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$36 000;
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$30 000.
Pregunta 17
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Subsequent to initial recognition of an intangible asset, an entity may choose to measure the item using the:
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gross method;
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cash flow method;
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revaluation method;
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net method.
Pregunta 18
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Under the revaluation method of measuring an intangible, the asset is carried at fair value and subject to charges for:
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inflation in value;
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amortisation and impairment;
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interest expense;
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increment in value.
Pregunta 19
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In circumstances where there is a revaluation decrement on revaluation of an intangible asset, any accumulated amortisation will be:
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eliminated at the time of revaluation;
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transferred immediately to a revaluation reserve account;
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credited to profit or loss;
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recognised as a gain on revaluation.
Pregunta 20
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When subsequent expenditure on intangible assets occurs the costs are:
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recognised directly in retained earnings account.
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transferred to a revaluation reserve account;
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capitalised;
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immediately expensed.
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