Question
Public sector entity A has incurred the following expenditure prior to commercial production of a new fire resistant door for use in public buildings. Marketing
Public sector entity A has incurred the following expenditure prior to commercial production of a new fire resistant door for use in public buildings.
Marketing campaign | €30,000 |
Royalty payment to inventor | €15,000 |
Training staff in door production | €10,500 |
What cost can public sector entity A include as an intangible development asset in accordance with IPSAS 31 'Intangible Assets'?
Nil
€15,000
€25,500
€55,500
Step by Step Solution
3.25 Rating (157 Votes )
There are 3 Steps involved in it
Step: 1
The correct answer is 15000 As per IPSAS 31 Intangible a...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Managerial Accounting Creating Value in a Dynamic Business Environment
Authors: Ronald Hilton, David Platt
10th edition
78025664, 978-0078025662
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App