Which of the following expenditure should NOT be

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

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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