CERTYNEX IFRS ACADEMY

Alteris, which develops applications, holds three items without physical substance: a bank term deposit, rights to operate an application it developed and uses to provide its services, and a deferred tax asset. The chief financial officer concludes that only the operating rights fall under IAS 38. Which argument best supports this conclusion?

The deposit is excluded because it is short-term, and the deferred tax asset because its amount is uncertain.

The operating rights fall under IAS 38 because they are the only item developed by the entity.

IAS 38 only applies to items that directly generate revenue.

The deposit is a financial asset excluded from the scope, the deferred tax asset falls under IAS 12, and no exclusion targets the rights.