All of the following statements are true except:
A) International accounting standards are more flexible in allowing the use of fair market values for intangible assets.
B) FASB standards require all research and development costs to be expensed.
C) IFRS requires all research and development costs to be expensed.
D) Under IFRS, fair market values for intangibles require an active market.

Question

Quizplus · Accepted Answer

IFRS does not require all research and development costs to be expensed. Under IFRS, development costs can be capitalized if certain criteria are met, unlike research costs which are expensed.

All of the Following Statements Are True Except