Covid-19 and intangible assets

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. How does IAS 38 define an intangible asset?

  2. What has remained constant throughout the history of IAS 38?

  3. What is particularly tricky about accounting for intangible assets?

  4. How does IAS 38 define 'identifiability' of an intangible asset?

  5. Which of the following expenditures does not fail to meet the identifiability criterion under IAS 38?

  6. Why is it difficult to identify benefits from synergistic use of business assets?

  7. Which of the following is not a condition of IAS 38?

  8. From which two sources do most intangible assets typically arise?

  9. What is required for use of IAS 38's re-evaluation model?

  10. Which two features of intangible assets support a historical cost model?