Mathematics · Accounting Standards

Which of these statements about research and development expenditure are correct in accordance with IAS 38 'Intangible Assets'? (1) If certain conditions are satisfied, research expenditure must be capitalised. (2) One of the conditions to be satisfied if development expenditure is to be capitalised is that the technical feasibility of the project is reasonably assured. (3) The amount of capitalised development expenditure for each project should be reviewed each year. If circumstances no longer justify the capitalisation, the balance should be written off over a period not exceeding five years. (4) Development expenditure may only be capitalised if it can be shown that adequate resources will be available to finance the completion of the project.