Which of the following statements is not true?
A)International accounting standards are more flexible in allowing the use of fair market values for intangible assets.
B)FASB standards require all research and development costs to be expensed.
C)IFRS require all research and development costs to be expensed.
D)Under IFRS,fair market values for intangibles require an active market.

Question

Quizplus · Accepted Answer

IFRS distinguishes between research and development costs, allowing for the capitalization of development costs under certain conditions, unlike the statement suggests.

Which of the Following Statements Is Not True