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Which of the following statements concerning the accounting treatment of research and development expenditure
are true, according to IAS 38 Intangible Assets?
(1) Development costs recognised as an asset must be amortised over a period not exceeding five years.
(2) Research expenditure, other than capital expenditure on research facilities, should be recognised as an
expense as incurred.
(3) In deciding whether development expenditure qualifies to be recognised as an asset, it is necessary to
consider whether there will be adequate finance available to complete the project.
(4) Development projects must be reviewed at each balance sheet date, and expenditure on any project no
longer qualifying for capitalisation must be amortised through the income statement over a period not
exceeding five years.
A 1 and 4
B 2 and 4
C 2 and 3
D 1 and 3.

C