Exam 15: Understanding Australian Accounting Standards

Items such as market knowledge, effective advertising programs, fundraising capabilities and trained staff are NOT regarded as assets because they:

(Multiple Choice)

4.9/5

(64)

Question 21

AASB 138 Intangibles, requires that the following items in relation to intangibles, each be disclosed separately:

(Multiple Choice)

4.9/5

(90)

Question 22

According to the definition provided in AASB 138 Intangibles, activities undertaken in the 'research' phase of the generation of an asset may include:

(Multiple Choice)

4.9/5

(88)

Question 23

Wojtowicz Limited was involved in a mining exploration business. It commenced a project to design more efficient gold detecting equipment. The following expenditures occurred during the financial year ended 2013: Researcher's salary $5000 Research consumables $3000 Re-development of the detecting equipment $4000 Final adjustments to the detecting equipment $2500. The amount to be capitalised by this company as an intangible asset, for the 2013 financial year, is:

(Multiple Choice)

4.8/5

(76)

Question 24

Showing 21 - 24 of 24

Items such as market knowledge, effective advertising programs, fundraising capabilities and trained staff are NOT regarded as assets because they:

AASB 138 Intangibles, requires that the following items in relation to intangibles, each be disclosed separately:

According to the definition provided in AASB 138 Intangibles, activities undertaken in the 'research' phase of the generation of an asset may include:

Accounting Regulation and the Conceptual Framework

Application of Accounting Theory

Shareholders Equity: Share Capital and Reserves

Fair Value Measurement

Revenue

Provisions, Contingent Liabilities and Contingent Assets

Income Taxes

Financial Instruments

Share-Based Payments

Translation of the Financial Statements of Foreign Entities

Employee Benefits

Inventories

Property, Plant and Equipment

Leases

Impairment of Assets

Accounting for Mineral Resources

Agriculture

Financial Statement Presentation

Statement of Cash Flows

Earnings Per Share

Operating Segments

Operating Segments

Business Combinations

Consolidation: Principles and Accounting Requirements

Consolidation: Intragroup Transactions

Consolidation: Non Controlling Interest

Joint Arrangements

Associates and Joint Ventures

Filters