Which statement is correct?
A)Under IFRS, research costs must fulfill six specific criteria.
B)Under IFRS, all research costs must be expensed as incurred.
C)Development activities must be technically feasible.
D)Adequate financial resources must exist to complete research activities.

Question

Quizplus · Accepted Answer

Under IFRS, all research costs must be expensed as incurred, as they do not meet the criteria for capitalization.

Which Statement Is Correct