1. Research and development costs are: 2. A loss on impairment of an intangible asset under IFRS is the assets:

$1.00 Excluding Tax

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Description

MULTIPLE CHOICE QUESTION:

1. Research and development costs are:

a. Expensed under GAAP.

b. Expensed under IFRS.

c. Expensed under both GAAP and IFRS.

d. None of the above.

2. A loss on impairment of an intangible asset under IFRS is the assets:

a. Carrying amount less the expected future net cash flows.

b. Carrying amount less its recoverable amount.

c. Recoverable amount less the expected future net cash flows.

d. Book value less its fair value.

3. Recovery of impairment is recognized for all the following except:

a. Patent held for sale.

b. Patent held for use.

c. Trademark.

d. Goodwill.


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