1. It provides the guiding principles in recognizing intangible assets that are not dealt specifically with other standards. A. IAS 38 B. IAS 39 C. IAS 40 D. IAS 41 2. These intangible assets are primarily used in the promotion of products or services. A. Customer-related intangible assets B. Marketing-related intangible assets C. Artistic-related intangible assets D. Contract-related intangible assets 3. These intangible assets are the result of interactions with outside parties. A. Customer-related intangible assets B. Marketing-related intangible assets C. Artistic-related intangible assets D. Contract-related intangible assets 4. These intangible assets involve ownership rights to plays, literary works, musical works, pictures, photographs, videos, and audio-visual materials. A. Customer-related intangible assets B. Marketing-related intangible assets C. Artistic-related intangible assets D. Contract-related intangible assets 8. These are assets that are derived from a right granted to the entity or a person. A. Unidentifiable intangible assets B. Identifiable intangible assets C. Cash-generating unit D. Goodwill 9. It is termed as the most intangible of the intangibles. A. Unidentifiable intangible assets B. Identifiable intangible assets C. Cash-generating unit D. Goodwill 10. Which is the smallest group of assets that together generate independent cash flows? A. Unidentifiable intangible assets B. Identifiable intangible assets C. Cash-generating unit D. Goodwill II. (10 points: 2 items x 5 points) Answer the following items. Use a 10-column worksheet for the solution. Determine the amount that would be initially recognized for the intangible assets item presented in each scenario. Scenario 1: Copyright P250,000 D. Contract-related intangible assets 4. These intangible assets involve ownership rights to plays, literary works, musical works, pictures, photographs, videos, and audio-visual materials. A. Customer-related intangible assets B. Marketing-related intangible assets C. Artistic-related intangible assets D. Contract-related intangible assets 5. These intangible assets represent the value of rights that arise from contractual arrangements. A. Customer-related intangible assets B. Marketing-related intangible assets C. Artistic-related intangible assets D. Contract-related intangible assets 6. What is the measurement of an intangible asset acquired through a government grant? A. Carrying amount of the asset given up B. Fair value plus directly attributable expenditures C. Cost D. Revalued amount 7. It comprises of goodwill and internally generated and purchased intangibles that do not have a specific cost, or have costs, but are unreliable. A. Unidentifiable intangible assets B. Identifiable intangible assets C. Cash Generating Unit D. Goodwill II. (10 points: 2 items x 5 points) Answer the following items. Use a 10-column worksheet for the solution. Determine the amount that would be initially recognized for the intangible assets item presented in each scenario. Scenario 1: Copyright P250,000 Deposit with advertising agency used 200,000 to promote goodwill Bond sinking fund 500,000 Excess of cost over fair value of 2,000,000 identifiable assets of acquired subsidiary 450,000 Trademark Requirement 1: Compute for the total cost of intangible assets. tastes Design cost of trademark Scenario 2: Marketing research to study consumer P800,000 3,000,000 Legal fee of registering trademark Advertising to establish recognition of trademark 300,000 400,000 Requirement 2: Compute for the cost of trademark