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According to IAS 38 Intangible assets, which of the following are intangible non-current assets in the financial statements of

Iota Co?

1 A patent for a new glue purchased for $20,000 by Iota Co

2 Development costs capitalised in accordance with IAS 383 A licence to broadcast a television series, purchased by Iota Co

for $150,0004 A state of the art factory purchased by Iota Co for $1.5million

A

1 and 3 only

B

1, 2 and 3 only

C

2 and 4 only

D

2, 3 and 4 only

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Chapter9Intangiblenon-currentassets

A factory is a tangible asset as it has physical form. The others are intangible assets.

多做几道

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

The going concern concept

D

The business entity concept

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

The going concern concept

D

The business entity concept

According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful

representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error

A

1 and 2

B

2 and 3

C

1 and 4

D

3 and4

Which of the following accounting concepts means that similar items should receive a similar accounting treatment?

A

Going concern

B

Accruals

C

Matching

D

Consistency

Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy

Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for

Financial Reporting?

A

1 and 2 only

B

2 and 4 only

C

3 and 4 only

D

1 and 3 only

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