An intangible asset is identified when,
A) It is separable
B) It arises from contractual or other legal rights, regardless whether those rights are transferable or separable from the entity
C) Either (a) or (b)
D) None of these
Correct Answer:
Verified
Q7: Accounting profession of India is governed by………………….
A)ICAI
B)Ministry
Q8: Property, Plant and Equipment are defined as,
A)Tangible
Q9: An entity must measure its Property, Plant
Q10: Which method depreciation is most appropriate for
Q11: Which of the following asset is not
Q13: The cost of intangible asset at initial
Q14: The useful life of an intangible asset
Q15: Impairment loss is recognised when,
A)Carrying amount of
Q16: An entity assesses inventories for impairment,
A)Only when
Q17: Inventories must be measured at
A)Cost
B)Lower of cost
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