Intangible Asset

Is goodwill consider as Intangible assets 

• Yes

• No

What an intangible asset subsequently be measured? 

• Cost Model

• Revaluation Model

• All of the above

Based on the slide, which of the following theory is not explain the development of MFRS 138 Intangible Assets? 

• Positive accounting theory 

• Normative theory approach 

• Pragmatic theory approach

• Economic theory approach 

Normative theory approach prescribes the ideal framework while positive accounting theory is relate to descriptive framework

• True

• False

Industry participants recognize both the strengths and weaknesses of MFRS 138. 

• True

• False

The reason justifies MFRS138 as principle-based approach except 

• Undetailed Accounting Treatment

• Detailed rules must follow 

• Unclarified Rules 

• Assumption Management

Development cost should be recognised as ________ if the entities can meet six conditions stated under MFRS 138

• Expense 

• Initial expenditure 

• Subsequent expenditure 

• Intangible assets

Which of the following are the limitations for MFRS 138 Intangible Asset?

• Lack of Intangible Asset Recognition Distorts Analytical Ratio

• Uncertainty in Assessment of Probability of Expected Future Economic Benefits

• Complex Conditions Stated under MFRS 138 Intangible Assets Paragraph 57

• All of the above 

Which of the following are NOT the recommendations proposed to MASB? 

• Expand scope of recognized subsequent expenditure

• Simplify illustrative examples and guidance for consolidation procedures 

• Simplify conditions under Para 57 

• Provide additional guidance on estimation techniques 

What is the issue with the current conditions under Para 57 in MFRS138?

• Simplified

• Easy to meet the recognition criteria 

• Industry-specified

• Difficult to demonstrate compliance