3. When intangible assets are self-generated, costs incurred in the development phase are a. capitalized. b. capitalized only to extent of the limits provided under the standards. c. expensed or capitalized, choice and professional judgment. d. expensed immediately, unless they meet all of the conditions for capitalization under PAS 38 Intangible assets. as a matter of accounting policy A Identify the type of the following costs: These include costs of searching new knowledge and I. identifying and selecting possible alternatives. These include costs of designing from selected alternative and using knowledge gained from research. a. Research costs, Development costs b. Development costs, Research costs G R&D, Intangible asset costs II.
3. When intangible assets are self-generated, costs incurred in the development phase are a. capitalized. b. capitalized only to extent of the limits provided under the standards. c. expensed or capitalized, choice and professional judgment. d. expensed immediately, unless they meet all of the conditions for capitalization under PAS 38 Intangible assets. as a matter of accounting policy A Identify the type of the following costs: These include costs of searching new knowledge and I. identifying and selecting possible alternatives. These include costs of designing from selected alternative and using knowledge gained from research. a. Research costs, Development costs b. Development costs, Research costs G R&D, Intangible asset costs II.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:When intangible assets are self-generated, costs incurred in
3.
the development phase are
capitalized.
b. capitalized only to extent of the limits provided under the
standards.
a.
expensed or capitalized, as a matter of accounting policy
choice and professional judgment.
d. expensed immediately, unless they meet all of the
conditions for capitalization under PAS 38 Intangible assets.
С.
A Identify the type of the following costs:
These include costs of searching new knowledge and
identifying and selecting possible alternatives.
These include costs of designing from selected
alternative and using knowledge gained from research.
a. Research costs, Development costs
b. Development costs, Research costs
c. R&D, Intangible asset costs
I.
II.
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Follow-up Question
Identify the type of the following costs:
These include costs of searching new knowledge and identifying and selecting possible alternatives.
These include costs of designing from selected alternative and using knowledge gained from research.
Group of answer choices
R&D, Intangible asset costs
Research costs, Development costs
R&D, Regular expense
Development costs, Research costs
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