Which of the following best describes the approach prescribed in IAS 38,"Intangible Assets"?
A) Expense all research and development costs.
B) Capitalize all research and development costs.
C) Expense all research costs and capitalize all development costs.
D) Capitalize all research costs and expense all development costs.

Question

Quizplus · Accepted Answer

IAS 38 prescribes that research costs should be expensed as incurred, while development costs can be capitalized if certain criteria are met, distinguishing between the research phase and development phase of a project.

Which of the Following Best Describes the Approach Prescribed in IAS