Which of these provisions of AASB 138 is inconsistent with the asset recognition criteria of the Framework?
A) Reviewing the unamortised balance of goodwill annually and, to the extent it is no longer supported by probable future economic benefits, writing it down
B) Recognising purchased goodwill as an asset
C) Not recognising internally generated goodwill as an asset when the market value of an entity can be measured reliably
D) Amortising goodwill

Question

Quizplus · Accepted Answer

Internally generated goodwill is not recognized as an asset under the Framework because it does not meet the criteria of being a separately identifiable resource controlled by the entity that can provide future economic benefits.

Which of These Provisions of AASB 138 Is Inconsistent with the Asset