As defined by IAS 38,how are intangible assets unlike other assets?
A)They must have arisen from past events.
B)Their value cannot be reasonably measured.
C)They must be controlled by the enterprise.
D)They are non-monetary and lack physical substance.

Question

Quizplus · Accepted Answer

Intangible assets are non-monetary assets that lack physical substance, making them unlike other assets such as property, plant and equipment, inventory, and financial assets. Intangible assets are also different in that they may not be easily bought or sold on the open market, and their values may not be as readily measurable as other types of assets. However, they must have arisen from past events, and must be controlled by the enterprise in order to be considered as an intangible asset under IAS 38.

As Defined by IAS 38,how Are Intangible Assets Unlike Other