Economics · Financial Accounting
Which of the following statements regarding the measurement and reporting of intangible assets is FALSE?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Research costs previously written off as an expense cannot be reinstated as an asset if the project later becomes successful.
- 2Amortisation of capitalised development costs should be presented as an item in the Statement of Changes in Equity.✓
- 3The revaluation model can only be used if the fair value of the intangible asset can be determined by reference to an active market.
- 4Intangible assets with an indefinite useful life are not amortised but must be tested annually for impairment.
Correct answer
Amortisation of capitalised development costs should be presented as an item in the Statement of Changes in Equity.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Preparing for Economics?
Practice full-length Economics mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Financial Accounting MCQs →Want more practice questions on Financial Accounting?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Financial Accounting