Luke Hodges
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Luke Hodges
Creado por Luke Hodges hace alrededor de 7 años
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ACC210 Financial Accounting: Week 4, Intangibles, Quiz 1.1

Pregunta 1 de 10

1

How are intangible assets normally defined?

Selecciona una de las siguientes respuestas posibles:

  • As rights

  • As non-monetary and without physical substance

  • As non-current and without physical substance

  • None of the above

Explicación

Pregunta 2 de 10

1

Which of the following does not belong with the others?

Selecciona una de las siguientes respuestas posibles:

  • Patent

  • Copyright

  • Goodwill

  • Trademark

Explicación

Pregunta 3 de 10

1

Internal expenditure related to the development of which of the following intangible assets can be capitalised rather than expensed?

Selecciona una de las siguientes respuestas posibles:

  • Goodwill

  • Patents

  • Brand names

  • R&D

Explicación

Pregunta 4 de 10

1

Which of the following factors would you not associate with goodwill?

Selecciona una de las siguientes respuestas posibles:

  • Loyal customers

  • Established reputation

  • Quality employees

  • Location

Explicación

Pregunta 5 de 10

1

Complete the definition of an intangible asset:'an __________ non-__________ asset without __________ substance'.

Selecciona una de las siguientes respuestas posibles:

  • unidentifiable; current; tangible

  • identifiable; physical; real

  • identifiable; monetary; physical

  • None of the above

Explicación

Pregunta 6 de 10

1

To be classified as an 'identifiable intangible' requires the asset to be separable. Separable means being capable of being separated or divided and being sold. Apart from sale, a number of other possibilities are listed in the standard. Which of the following is not one of these?

Selecciona una de las siguientes respuestas posibles:

  • Leased

  • Transferred

  • Licensed

  • Rented

Explicación

Pregunta 7 de 10

1

AASB 138 requires 'separable' intangible assets to be recognised in the balance sheet. Complete the following definition of 'separable': 'Separable means that the organisation could ________, sell, exchange or distribute the specific future economic benefits attributable to the asset without also ________ future economic benefits that ______ from other assets used in the same revenue-earning activity.'

Selecciona una de las siguientes respuestas posibles:

  • hire; realising the; arise

  • rent; disposing of; flow

  • lease; recognising the; are derived

  • appropriate; accounting for the; emanate

Explicación

Pregunta 8 de 10

1

The formation or start-up costs of an organisation would not be shown as an asset under the new accounting standard based on what grounds?

Selecciona una de las siguientes respuestas posibles:

  • Failure to meet the 'separable' test

  • The absence of control

  • The lack of a reliable measurement

  • On the grounds that the future economic benefits will probably not arise

Explicación

Pregunta 9 de 10

1

In terms of the life of intangible assets, they are classified as either having a finite or an __________ life. What is the missing term?

Selecciona una de las siguientes respuestas posibles:

  • Infinite

  • Indefinite

  • Extended

  • Unlimited

Explicación

Pregunta 10 de 10

1


For intangible assets, they may be recognised only where there is an 'associated' cost. Which of the following would not normally be considered an 'associated' cost?

Selecciona una de las siguientes respuestas posibles:

  • Purchase price

  • Import duties

  • Employee costs associated with work undertaken to get the asset ready for use

  • Advertising costs

Explicación

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