Economics · Accounting Standards - IAS 38
Which of the following statements is true in relation to accounting for intangible assets according to IAS 38?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Research costs can be capitalised if the project is expected to be profitable in the future.
- 2Capitalised development costs must be amortised from the date research is completed.
- 3Internally generated brands and customer lists can be capitalised if they have a clear financial value.
- 4Development costs that no longer meet the capitalisation criteria must be written off to the statement of profit or loss immediately.✓
Correct answer
Development costs that no longer meet the capitalisation criteria must be written off to the statement of profit or loss immediately.
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