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Which costs be capitalised as part of cost of internally

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Problem 1: Which of the following costs would be capitalised as part of the cost of internally generating an intangible asset, subject to satisfying recognition criteria in IAS 38?

A. Costs of developing the business as a whole

B. Modification of the design of a product

C. Start-up costs of a new operation

D. Cost of marketing the new product

Problem 2: The following expenditures shall be expensed when incurred, except

A. Business relocation or reorganization costs

B. Advertising and promotion costs

C. Start up costs

D. Payments in advance of delivery of goods or the rendering of services

Problem 3: Amortization of an intangible asset with a finite useful life shall commence when

A. The costs can be identified with reasonable certainty

B. It is first recognized as an asset

C. It is available for use

D. It is probable that it will generate future economic benefits

Reference no: EM132785512

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