Intangible asset in the accounts of flash ltd

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Reference no: EM132892569

Exercise

Recognition of intangible assets Flash Ltd has the following:

1. an investment in a subsidiary company

2. training costs associated with a new product

3. the cost of testing in search for product alternatives

4. legal costs incurred in securing a patent

5. long-term receivables. Required

Which of these should be included as an intangible asset in the accounts of Flash Ltd? Give reasons for your answers.

Reference no: EM132892569

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