Identify which THREE of the following statements are TRUE according to IAS 38 Intangible Assets: 1. Research costs should be expensed to the statement of profit or loss. 2. All types of goodwill can be capitalized as an intangible asset. 3. Capitalized development costs must be written off to profit or loss if they no longer meet the IAS 38 criteria. 4. Capitalized development costs are amortized from the date the asset is available for use or sale. 5. Research costs that were previously expensed can be re-capitalized once the project becomes feasible.

Which TWO of the following statements are true in accordance with IAS 38 Intangible Assets? 1. IAS 38 mandates the revaluation of intangible assets whenever tangible non-current assets are revalued. 2. IAS 38 prohibits the revaluation of intangible assets under any circumstances. 3. IAS 38 permits the revaluation of intangible assets only if there is an active market for those assets. 4. IAS 38 requires that the initial recognition of an intangible asset must be measured at cost.

Which TWO of the following are explicit requirements of IAS 38 Intangible Assets in relation to the amortisation of intangible assets (excluding goodwill)? 1. Intangible assets should be amortised over their expected useful life, or not at all if the useful life is deemed indefinite. 2. Intangible assets should never be amortised but instead reviewed only for impairment losses. 3. Intangible assets should be amortised based on the expected pattern of consumption of the future economic benefits. 4. Intangible assets should neither be amortised nor impaired, and instead carried at original cost until derecognised.