Question:Which of the following statements about intangible assets in company financial statements are correct according to international financial reporting standards?
Research expenditure should not be capitalised.
Intangible assets are never amortised.
Development expenditure must be capitalised if certain conditions are met.
A. 1 and 3 only
B. 1 and 2 only
C. 2 and 3 only
D. All three statements are correct
The correct answer is: 1 and 3 only.
解析:Research expenditure is never capitalised, development expenditure is capitalised if it meets certain conditions per IAS 38. Intangible assets are amortised over their useful life, if the life of the asset is indefinite, then it does not have to be amortised.
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