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03 : (12 Marks) a) Define an Intangible Asset as per IAS 38 (2 marks) b) Explain the initial recognition and subsequent recognition of an

03 : (12 Marks) a) Define an Intangible Asset as per IAS 38 (2 marks) b) Explain the initial recognition and subsequent recognition of an intangible asset (3 marks) c) Discuss the treatment of internally generated intangible assets as per IAS 38 (7 marks)

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