Paragraph 63 of AASB 138 Intangibles,prohibits the recognition of the following internally generated identifiable intangibles:
I II III IV
Brands No No No Yes
Mastheads No Yes Yes Yes
Publishing titles No No Yes Yes
Customer lists No Yes No Yes
A)I
B)II
C)III
D)IV.

Question

Quizplus · Accepted Answer

Paragraph 63 of AASB 138 prohibits the recognition of internally generated identifiable intangibles, except in limited circumstances. The options given are brands, mastheads, publishing titles, and customer lists. According to the paragraph, brands cannot be recognized, mastheads and publishing titles can be recognized, and customer lists can also be recognized. The only option that is correct according to the paragraph is IV, which is customer lists, so the answer is D.

Paragraph 63 of AASB 138 Intangibles,prohibits the Recognition of the Following