According to IAS 38 Intangible assets which of the following statements about intangible assets are correct?
If certain criteria are met, research expenditure must be recognised as an intangible asset.
If certain criteria are met, development expenditure must be capitalised
Intangible assets must be amortised if they have a definite useful life
The correct answer is: 2 and 3 only.
Research expenditure is never capitalised.
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