(a)Describe intangible assets? Give THREE (3) examples of intangible assets.

(b)How is the cost of the intangible assets be determined if it is acquired by issuance of shares.

(c)Identify THREE (3) typical costs included in the cash purchase of an intangible asset.

(d)Assuming that MCO Bhd acquires the customer list of a social media for RM8,000,000. The company expects to benefit from the information evenly over a four-year period. REQUIRED: Explain the accounting treatment for the customer list acquired by MCO Bhd in accordance with MFRS 138 Intangible Assets.

(e)Based on MFRS 138 Intangible Assets, state TWO (2) criteria that an entity must meet in order for the development costs (e.g. construction of prototypes) to be capitalised?