For an asset to be classified as an identifiable intangible,AASB 138 Intangibles requires that it meet which of the following criteria?
I.It arises from a contractual or legal right.
II.Its fair value must be able to be reliably measured.
III.It is separable from the entity.
IV.Its cost must reliably measurable.
A)I or IV only
B)I or II only
C)II or III only
D)I or III only.

Question

Quizplus · Accepted Answer

An identifiable intangible asset must either arise from contractual or legal rights (I) or be separable from the entity (III).

For an Asset to Be Classified as an Identifiable Intangible,AASB