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    Question

    Which of the following expenditure should NOT be

    recognized as intangible asset as per AS 26?
    A Cost of software purchased for internal use Correct Answer Incorrect Answer
    B Development cost meeting recognition criteria Correct Answer Incorrect Answer
    C Research expenditure Correct Answer Incorrect Answer
    D Technical know-how purchased Correct Answer Incorrect Answer
    E Goodwill acquired in business combination Correct Answer Incorrect Answer

    Solution

    Research costs must be expensed as incurred; development costs can be capitalized if recognition criteria met.

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