Question 18. In accordance with IAS 38 Intangible Assets, which of the following statements regarding the accounting treatment of an intangible asset is correct?

An intangible asset with a finite useful life is tested for impairment annually

An intangible asset with an indefinite useful life is tested for impairment when indications exist

An intangible asset with a finite useful life must be amortised using the straight line method

The assumption that an intangible asset has an indefinite useful life must be reviewed annually