If an intangible with an indefinite life is disposed of, there is no effect on profit.

Name: If an intangible with an indefinite life is disposed of, there is no effect on profit.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When an intangible asset with an indefinite life is disposed of, it may result in a gain or loss, affecting the profit. The difference between the asset's carrying amount and the disposal proceeds (if any) is recognized in profit or loss.

If an Intangible with an Indefinite Life Is Disposed Of