(a) Define the term intangible asset and explain the main features of this definition. (b) Explain how...

Question:

(a) Define the term "intangible asset" and explain the main features of this definition.
(b) Explain how an intangible asset should be measured at its initial recognition if it is acquired in a separate transaction.
(c) Explain how an intangible asset should be measured at its initial recognition if it is acquired in a business combination.