Research costs
A) are classified as intangible assets.
B) must be expensed when incurred under both IFRS and ASPE.
C) should be included in the cost of the patent they relate to.
D) are capitalized and then depreciated over a period not to exceed 40 years.

Question

Quizplus · Accepted Answer

Research costs must be expensed when incurred according to both International Financial Reporting Standards (IFRS) and Accounting Standards for Private Enterprises (ASPE), reflecting the uncertainty of future economic benefits.

Research Costs