Under ifrs the definitional criteria for identifiable

55. Under IFRS the definitional criteria for identifiable intangible assets most likely
includes:
A. the cost of the asset can be reliably measured.
B. it is probable that the expected future economic benefits of the asset will
flow to the company.
C. the asset must be identifiable, under the control of company and expected
to generate future economic benefits.
Correct Answer: C
Reference:
CFA Level I, Volume 3, Study Session 9, Reading 27, LOS-b.
Under IFRS identifiable intangible asset must meet three definitional criteria .
The asset must be :
In addition the following two recognition criteria which must be met is:

Level I of CFA ® Program Mock Exam 1 – Solutions (AM)
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56. Knin Inc. issued a 6 year, 7% annual-coupon paying bond with a face value of
$10 million on 1 st January 2011 when the market interest rate was 7.7%. Using
the effective interest rate method, the interest expense on bonds reported in 31
December 2012 is closest to:
57. A lessor will record interest income if a lease is classified as:
A. an operating lease.
B. either capital or operating lease.
C. either direct financing or sales-type lease.
Correct Answer: C
Reference:
CFA Level I, Volume 3, Study Session 9, Reading 29, LOS-k.

Level I of CFA ® Program Mock Exam 1 – Solutions (AM)
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58. An investor uses simple stock screen criteria based on a P/E ratio of less than 5
and financial leverage ratio of less than 0.5. The investor will least likely exclude
stocks of companies:

Level I of CFA ®