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CA Final Ind AS 36 Impairment of Assets and Ind AS 38 Intangible Assets — practice questions — page 3

Explore 93 free Ind AS 36 Impairment of Assets and Ind AS 38 Intangible Assets questions in CA Final Financialreporting. Open each question or exercise to read its content, reference answers and available explanation.

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Ind AS 36 Impairment of Assets and Ind AS 38 Intangible Assets questions and exercises with answers

Showing questions 61–90 of 93.

Which activity is development rather than research?Read the answer and worked solution →Under Ind AS 38, development is the application of research findings before what stage?Read the answer and worked solution →An intangible from the development phase is recognised if, and only if, how many criteria are demonstrated?Read the answer and worked solution →Which is a development phase recognition criterion?Read the answer and worked solution →Spent Rs 600 before criteria were met, Rs 400 after. Cost of intangible?Read the answer and worked solution →Expenditure earlier expensed on an intangible item can later be treated how?Read the answer and worked solution →How are internally generated brands and customer lists treated?Read the answer and worked solution →Revaluation of an intangible under Ind AS 38 requires fair value to be measured by reference to what?Read the answer and worked solution →For which intangible can an active market exist?Read the answer and worked solution →If one intangible is revalued, what applies to other assets in its class?Read the answer and worked solution →A revaluation increase of an intangible is recognised where?Read the answer and worked solution →An intangible of Rs 200 is first revalued to Rs 260. Surplus recognised?Read the answer and worked solution →An indefinite life means no foreseeable limit to what?Read the answer and worked solution →The term indefinite useful life under Ind AS 38 does not mean what?Read the answer and worked solution →An intangible with an indefinite useful life is treated how for amortisation?Read the answer and worked solution →The useful life of an intangible arising from contractual or legal rights cannot exceed what?Read the answer and worked solution →When does amortisation of an intangible with finite life begin?Read the answer and worked solution →Which methods may be used to amortise an intangible?Read the answer and worked solution →If the amortisation pattern cannot be determined reliably, which method is used?Read the answer and worked solution →Residual value of a finite life intangible is assumed to be what unless a third party commitment or active market exists?Read the answer and worked solution →Patent Rs 600, six year life, nil residual. Carrying amount after two years?Read the answer and worked solution →The amortisation period and method of a finite life intangible are reviewed at least when?Read the answer and worked solution →An intangible asset is derecognised on disposal or when what?Read the answer and worked solution →Derecognition gain or loss is proceeds minus what?Read the answer and worked solution →Gains on derecognition of an intangible asset are classified how?Read the answer and worked solution →How may a nominal-cost government grant intangible be measured?Read the answer and worked solution →To assess impairment of an intangible asset, which Ind AS is applied?Read the answer and worked solution →A website from development is recognised only if it meets what?Read the answer and worked solution →The best estimate of a recognised website's useful life should be what?Read the answer and worked solution →Costs of an entity's own website at the planning stage are treated how?Read the answer and worked solution →

Worked practice questions

Which activity is development rather than research?

  1. Pursuing new knowledge
  2. Testing pre-use prototypes
  3. Searching for alternatives
  4. Evaluating findings
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Correct answer: B. Testing pre-use prototypes

Design, construction and testing of pre-production or pre-use prototypes is a development activity.

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Under Ind AS 38, development is the application of research findings before what stage?

  1. Start of commercial use
  2. Completion of the audit
  3. Issue of the patent
  4. Sale of the product
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Correct answer: A. Start of commercial use

Development precedes the start of commercial production or use.

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An intangible from the development phase is recognised if, and only if, how many criteria are demonstrated?

  1. Three
  2. Four
  3. Five
  4. Six
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Correct answer: D. Six

Six criteria cover technical feasibility, intention, ability, probable benefits, resources and reliable measurement.

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More Financialreporting topics

Ind AS 116 LeasesInd AS 24 Related Party Disclosures and Ind AS 108 Operating SegmentsInd AS 1 Presentation of Financial StatementsInd AS 12 Income TaxesInd AS 113 Fair Value MeasurementInd AS 109 Financial InstrumentsInd AS 23 Borrowing Costs and Ind AS 40 Investment PropertyInd AS 103 Business Combinations