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Which of the statements about research is correct

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Problem 1: According to IFRS, which of the following statements about research and development costs is most correct?

A. Research costs are capitalized and development costs are expensed as incurred.

B. Research costs are expensed as incurred and development costs are capitalized.

C. Both research and development costs are expensed as incurred, unless the costs have an alternative use.

Reference no: EM132636864

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