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1. Which of the following CANNOT be recognised as an intangible non‐current asset in BHI’s consolidated statement of financial position at 30 September 2020?
2. At 30 September 20X9 Yule Co's trial balance showed a brand at cost of $30 million, less accumulated amortisation brought forward at 1 October 20X8 of $9 million. Amortisation is based on a ten year useful life. An impairment review on 1 April 20X9 concluded that the brand had a value in use of $12 million and a remaining useful life of five years. However, on the same date Yule Co received an offer to purchase the brand for $20 million.

What should be the carrying amount of the brand in the statement of financial position of Yule Co as at 30 September 20X9? (Answer to the nearest $'000)

3. Which of the following could be classified as development expenditure in Duke’s statement of financial position as at 31 March 2020 according to IAS 38 Intangible Assets?
4. Woolworth Co is developing a new product and expects to be able to capitalise the costs. Which of the following would disallow the capitalisation of the costs?
5. Which TWO of the following factors are reasons why key staff cannot be capitalised as an intangible asset by an entity?

A. Their value cannot be measured reliably

B. They are not separable from the business as a whole

C. They do not provide expected future economic benefits

D. They cannot be controlled by an entity

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