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Which of the following intangibles may be capitalised as an asset by an entity? Select one:...

Which of the following intangibles may be capitalised as an asset by an entity? Select one: a. Goodwill acquired as part of a business combination. b. Customer lists developed by the entity’s marketing division. c. Internally generated mastheads. d. Publishing titles developed within the entity.

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Answer #1
  • Purchased goodwill should be capitalised
  • Purchased intangible assets should be capitalised
  • Internally generated goodwill should not be capitalised
  • Internally generated intangible assets should only be capitalised where they have a readily ascertainable market value. So if the master heads , publishing titles and customer list' are having a market then only they'll be capitalised..

Goodwill arised from business communication shall be recognised as an asset at the date on which control is obtained.

Option a

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