Intangible Assets Quiz
Authored by Denis Lim
Financial Education
University
Used 6+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of an intangible asset under IAS 38?
Physical existence
Identifiability
Tangibility
Historical cost
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goodwill arising from the acquisition of a subsidiary is:
Amortized over its useful life
Immediately written off to profit or loss
Tested annually for impairment
Treated as a contingent liability
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Development costs can be capitalized when:
The project has started
Technical feasibility has been demonstrated
Costs exceed $100,000
Revenue has been generated
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a requirement for the recognition of an intangible asset?
Probable future economic benefits
Reliable measurement of cost
Physical presence
Control over the resource
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An example of an internally generated intangible asset is:
Patent purchased from another company
Brand created through advertising
Software developed in-house
Franchise license acquired
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under IAS 38, an intangible asset with an indefinite useful life:
Is amortized over 10 years
Is not amortized but tested annually for impairment
Is written off immediately
Must be revalued annually
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following costs should be expensed as incurred?
Research costs
Development costs post-feasibility
Legal costs for patent registration
Purchase of a trademark
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