According to the definition provided in IAS 38 Intangibles, activities undertaken in the 'research' phase of the generation of an asset may include:
A) the application of knowledge to a design for the production of new materials;
B) original and planned investigation with the prospect of gaining new scientific knowledge;
C) the use of research findings to create a substantially improved product;
D) using knowledge to materially improve a manufacturing device.

Question

Quizplus · Accepted Answer

According to IAS 38, activities in the research phase involve original and planned investigation with the prospect of gaining new scientific knowledge. Option A, C, and D are activities that fall under the development phase of asset generation.

According to the Definition Provided in IAS 38 Intangibles, Activities