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Langsat Bhd purchased music rights from another business at a cost of RM48,000 on 1...

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Accounting

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Langsat Bhd purchased music rights from another business at a cost of RM48,000 on 1 April 2021. The music rights are expected to provide future economic benefits to the company over six years. Required: Explain the accounting treatment for the music rights in the financial statements of Langsat Bhd for the financial year ending 31 December 2021. (10 marks)

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