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Hi Sir,
I had a practice question but wanted to check the wording. The question asks under IAS 38 Intangible Assets which two are required for the costs of the asset to be capitalized as an intangible asset?
1) It must be a non-monetary asset
2) It must result in a flow of economic benefit to the entity
3) its costs should be able to be measured reliablyI thought it was 1 & 3. The wording on number 2 makes me think that could be correct instead?
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