On 1 July 2018, Batu Muda United acquired
copyrights of the football merchandise for RM20,000,000. The copyright
agreement was for a five-year period. During the initial six-month period of
the agreement, the club was unable to continue due to financial problems.
However, the club still needs to incur the costs for time losses.
Required:
Based on the above, describe whether the
copyrights are intangible assets based on MFRS 138 Intangible Assets.
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