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CA Final Ind AS 36 Impairment of Assets and Ind AS 38 Intangible Assets — practice questions — page 4

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 91–93 of 93.

Acquired intangibles that cannot be recognised separately go where?Read the answer and worked solution →Prior recoverable amount may be reused if the margin was what?Read the answer and worked solution →With no active market now, a revalued intangible is carried at what?Read the answer and worked solution →

Worked practice questions

Acquired intangibles that cannot be recognised separately go where?

  1. Expensed at once
  2. Into goodwill
  3. Revalued yearly
  4. Written off to OCI
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Correct answer: B. Into goodwill

Items acquired that cannot be recognised as intangibles form part of goodwill at acquisition date.

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Prior recoverable amount may be reused if the margin was what?

  1. A substantial one
  2. A marginal one
  3. A nil margin
  4. A negative one
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Correct answer: A. A substantial one

Reuse requires a substantial excess, unchanged assets and a remote likelihood of a lower recoverable amount.

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With no active market now, a revalued intangible is carried at what?

  1. Last revalued net amount
  2. Original cost basis
  3. Reset down to zero
  4. Replacement cost basis
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Correct answer: A. Last revalued net amount

It stays at the revalued amount at the last active-market revaluation less subsequent amortisation and impairment.

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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