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Which statements is true regarding the intangible assets

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Problem 1: ABC Inc. asked you to audit its internally generated intangible assets. Which of the following statements is true regarding the intangible assets?

A. The cost of internally generated intangible asset comprises all directly attributable costs necessary to create, produce and prepare the asset for the intended use.
B. All of the choices are true
C. Internally generated brand, masthead, publishing title, and customer list shall be recognized as intangible asset
D. Internally generated goodwill shall be recognized as an intangible asset and be accounted for under PFRS 3 Business Combination rather than PAS 38 Intangible
E. Assets All of the choices are false

Reference no: EM132805936

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