AASB 138 Intangibles,requires that an intangible asset with a finite life:
A)be amortised across its useful life
B)be amortised across a period of no greater than 20 years
C)not be amortised in periods when it is been properly maintained
D)not be subject to amortisation charges.

Question

Quizplus · Accepted Answer

According to AASB 138, an intangible asset with a finite life should be amortised across its useful life. The amortisation expense should be recognised in the income statement on a systematic basis over the asset's useful life. This reflects the consumption of economic benefits obtained from the intangible asset over time.

AASB 138 Intangibles,requires That an Intangible Asset with a Finite