Which of the Following Statements Is False

question 27

Multiple Choice

Which of the following statements is false?

• A) For an "intangible" asset to be recognized, there must be a probability of it generating future economic benefit and be capable of being measured
• B) Research expenditure may be treated as capital expenditure
• C) Development expenditure may be treated as capital expenditure
• D) Internally generated intangibles, such as brands, should not be capitalized

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Definitions:

Recover Money

The process of obtaining funds that were lost or owed through legal or other means.

Insurer

An entity that provides insurance coverage to policyholders in exchange for premiums.

Possession

The actual physical control or occupancy of property, with or without the legal right to own it.

Automobile Parts

Components and accessories used in the manufacturing and maintenance of vehicles.