An entity purchases a trademark and incurs the following costs in connection with the trademark:
One-time trademark purchase price
$100,000
Nonrefundable VAT taxes
5,000
Training sales personnel on the use of the new trademark
7,000
Research expenditures associated with the purchase of the new trademark
24,000
Legal costs incurred to register the trademark
10,500
Salaries of the administrative personnel
12,000
Applying IFRS and assuming that the trademark meets all the applicable initial asset-recognition criteria, the entity should recognize an asset in the amount of:.
a) $100,000
b) $115,500
c) $146,500
d) $158,500

Ivan, a russian fishermen, needs a permit so that he can commercially participate in ice fishing for yellow perch and then the consequent sales. garet is an undergraduate student who has to work at mcdonald\'s part time to pay his tuition loans. always looking on the bright side of things, he is that he can\'t make less than what he is earning, $7.25 an hour. d\'artagnan, a poor french noblemen, discovers a large cache of truffles in his backyard. however, the government caps the sale of truffles at $100 a pound, which frustrates d\'artagnan as he knows they are worth more than that. athos is an avid collector of swords, but as they are illegal to purchase, he goes by illicit means to obtain them. to out irish farmers, the government sets the minimum price of potatoes at $26 a bushel. in order to support domestic sales of textiles, the country of germany puts a cap on the amount of foreign textiles it imports.