Since economic benefits derived from intangible assets are uncertain, their costs of acquisition should be expensed in

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Since economic benefits derived from intangible assets are uncertain, their costs of acquisition should be expensed in the period when they are incurred.

Which principle is put into practice in this statement?

(a) Going concern principle

(b) Matching principle

(c) Prudence principle

(d) Accrual principle AppendixLO1

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Financial Accounting And Reporting A Global Perspective

ISBN: 9781844802500

2nd Edition

Authors: Michel J. Lebas, Herve Stolowy, Michael Lebas

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