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According to IAS 38 Intangible assets, which of the following statements are correct?

1 Research expenditure should not be capitalised.

2 Intangible assets are never amortised.

3 Development expenditure must be capitalised if certain conditions are met.

A

1 and 3 only

B

1 and 2 only

C

2 and 3 only

D

All three statements are correct

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Chapter9Intangiblenon-currentassets

Research expenditure is never capitalised, development expenditure is capitalised if it meetscertain conditions per IAS 38.

Intangible assets are amortised over their useful life, if the life of the asset is indefinite, then it does not have to be amortised

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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