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All of the following are simplified principles for recognizing and measuring assets, liabilities, income, and expenses for SMEs under IFRS except:

a. Borrowing costs are expensed as incurred.

b. All development costs are expensed as incurred.

c. Actuarial gains and losses for defined benefit plans may be either recognized immediately or deferred and amortized.

d. Goodwill is amortized over its useful life.

e. The cost model for property, plant, and equipment must be used.

Respuesta :

Karabo99

Answer:

b. All development costs are expensed as incurred

Explanation:

The development cost are expensed but they are also capitalized when they satisfy the conditions i.e the value of the product.

The asset should generate benefits to the company over a certain period of time.

Therefore, The statement that all the development cost should be expensed is incorrect.

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