Which of the following CANNOT be recognised as an intangible non-current asset in GHK's statement of financial position at 30 September 20X1? 9.4 GHK spent $12,000 researching a new type of product. The research is expected to lead to a new product line in three years' time A omos ard moit GHK purchased another entity, BN on 1 October 20X0. Goodwill arising on the acquisition was $15,000 C GHK purchased a brand name from a competitor on 1 November 20X0, for $65,000 GHK spent $21,000 during the year on the development of a new product. The product is being launched on the market on 1 December 20X11 and is expected to be profitable
Which of the following CANNOT be recognised as an intangible non-current asset in GHK's statement of financial position at 30 September 20X1? 9.4 GHK spent $12,000 researching a new type of product. The research is expected to lead to a new product line in three years' time A omos ard moit GHK purchased another entity, BN on 1 October 20X0. Goodwill arising on the acquisition was $15,000 C GHK purchased a brand name from a competitor on 1 November 20X0, for $65,000 GHK spent $21,000 during the year on the development of a new product. The product is being launched on the market on 1 December 20X11 and is expected to be profitable
Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions
Section: Chapter Questions
Problem 75P
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Can you explain in detail why the answer is A please?
Transcribed Image Text:QUESTIONS
9.4
Which of the following CANNOT be recognised as an intangible non-current asset in GHK's statement of
financial position at 30 September 20X1?
GHK spent $12,000 researching a new type of product. The research is expected to lead to a
new product line in three years' time
A
GHK purchased another entity, BN on 1 October 20X0. Goodwill arising on the acquisition was
$15,000
C
GHK purchased a brand name from a competitor on 1 November 20X0, for $65,000
GHK spent $21,000 during the year on the development of a new product. The product is being
launched on the market on 1 December 20x1 and is expected to be profitable
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