Which one of the following would not be recognized as a non-current asset in the statement of financial position of a professional football club?
A) The contracts of players purchased from other football clubs.
B) Grass cutting machinery purchased during the year.
C) The stadium owned by the football club.
D) The contracts of players who joined the club after successfully completing their apprenticeship with the club.

Question

Quizplus · Accepted Answer

The contracts of players who joined the club after completing their apprenticeship are not recognized as non-current assets because they are internally generated and do not meet the recognition criteria for intangible assets.

Which One of the Following Would Not Be Recognized as a Non-Current