BM1706
Name ___________________________________________ Section ____________________________ Date _____________
Exam Reminders: ___7. It comprises of goodwill and internally generated and
• Any form of cheating will result in a score of ZERO. (e.g. purchased intangibles that do not have a specific
leaking of exam items and answers on social media, cost, or have costs, but are unreliable.
copying from other students, using prohibited A. Unidentifiable intangible assets
resources/cheat sheets, etc.) B. Identifiable intangible assets
• Use black or blue pen only. Pencils and erasable pens are C. Cash Generating Unit
not allowed. D. Goodwill
___8. These are assets that are derived from a right
I. (30 points: 10 items x 3 points) granted to the entity or a person.
Read and analyze each item. Write the letter of the correct A. Unidentifiable intangible assets
answer on the space provided. B. Identifiable intangible assets
___1. It provides the guiding principles in recognizing C. Cash-generating unit
intangible assets that are not dealt specifically with D. Goodwill
other standards.
A. IAS 38 ___9. It is termed as the most intangible of the intangibles.
B. IAS 39 A. Unidentifiable intangible assets
C. IAS 40 B. Identifiable intangible assets
D. IAS 41 C. Cash-generating unit
D. Goodwill
___2. These intangible assets are primarily used in the
promotion of products or services. ___10. Which is the smallest group of assets that together
A. Customer-related intangible assets generate independent cash flows?
B. Marketing-related intangible assets A. Unidentifiable intangible assets
C. Artistic-related intangible assets B. Identifiable intangible assets
D. Contract-related intangible assets C. Cash-generating unit
D. Goodwill
___3. These intangible assets are the result of interactions
with outside parties. II. (10 points: 2 items x 5 points)
A. Customer-related intangible assets Answer the following items. Use a 10-column worksheet
B. Marketing-related intangible assets for the solution.
C. Artistic-related intangible assets
D. Contract-related intangible assets Determine the amount that would be initially recognized for
the intangible assets item presented in each scenario.
___4. These intangible assets involve ownership rights to
plays, literary works, musical works, pictures, Scenario 1:
photographs, videos, and audio-visual materials. Copyright P250,000
A. Customer-related intangible assets Deposit with advertising agency used 200,000
B. Marketing-related intangible assets to promote goodwill
C. Artistic-related intangible assets Bond sinking fund 500,000
D. Contract-related intangible assets Excess of cost over fair value of 2,000,000
identifiable assets of acquired
subsidiary
___5. These intangible assets represent the value of rights Trademark 450,000
that arise from contractual arrangements.
A. Customer-related intangible assets Requirement 1: Compute for the total cost of intangible
B. Marketing-related intangible assets assets.
C. Artistic-related intangible assets
D. Contract-related intangible assets Scenario 2:
Marketing research to study consumer P800,000
___6. What is the measurement of an intangible asset tastes
acquired through a government grant? Design cost of trademark 3,000,000
A. Carrying amount of the asset given up Legal fee of registering trademark 300,000
B. Fair value plus directly attributable expenditures Advertising to establish recognition of 400,000
C. Cost trademark
D. Revalued amount Registration fee with Intellectual 100,000
Property Office
06 Task Performance 1 *Property of STI
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BM1706
Name ___________________________________________ Section ____________________________ Date _____________
Requirement 2: Compute for the cost of trademark.
Rubric for grading
PERFORMANCE INDICATORS POINTS
Complete solution with correct answer 5
Half of the solution is correct 3
First major step of the solution is correct 1
06 Task Performance 1 *Property of STI
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