Ali Brothers acquired an intangible assets and predicted that its useful life is indefinite. Which of the following statement is the correct description of amortization? O a. The acquired intangible assets by Ali Brothers can be amortized as per IAS 38. O b. The acquired intangible assets by Ali Brothers cannot be amortized as per IAS 38. O C.As per IAS 38 an intangible asset with indefinite life is tested annually for impairment not amortised. O d. The acquired intangible assets by Ali Brothers can be depreciated as per IAS 16.

Ali Brothers acquired an intangible assets and predicted that its useful life is indefinite. Which of the following statement is the correct description of amortization? O a. The acquired intangible assets by Ali Brothers can be amortized as per IAS 38. O b. The acquired intangible assets by Ali Brothers cannot be amortized as per IAS 38. O C.As per IAS 38 an intangible asset with indefinite life is tested annually for impairment not amortised. O d. The acquired intangible assets by Ali Brothers can be depreciated as per IAS 16.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 11EB: The following intangible assets were purchased by Hanna Unlimited: A. A patent with a remaining...

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