Which of the following statements is/are correct?

i. Capitalized development expenditure must be amortized over a period not exceeding five years.

ii. Capitalized development costs are shown in the statement of financial position under the heading of noncurrent assets.

iii. If certain criteria are met, research expenditure can be recognized as an intangible asset.

a. ii only

b. ii and iii

c. i only

d. i and iii ACCA adaptedLO1.