Which statement is true as it relates to IFRS' reporting requirements for internally-developed intangibles?
A) IFRS allows both research and development costs to be capitalized when specific criteria are met
B) IFRS allows research costs to be capitalized when specific criteria are met
C) IFRS allows development costs to be capitalized when specific criteria are met
D) IFRS requires that both research and development costs be expensed when incurred

Question

Quizplus · Accepted Answer

Development costs can be capitalized as intangible assets under IFRS, though GAAP requires both research and development costs be expensed when incurred.

Which Statement Is True as It Relates to IFRS' Reporting