IAS 38 requires the capitalization of development expenses in R&D.How does U.K.GAAP handle such development expenses?
A)Expensed right away
B)Permits capitalization
C)Amortized at the firm's choice
D)There is no specific requirement.

Question

Quizplus · Accepted Answer

Under UK GAAP, similar to IAS 38, development expenses can be capitalized if certain criteria are met, indicating that the expenditure will lead to future economic benefits.

IAS 38 Requires the Capitalization of Development Expenses in R&D