Consider the following statements concerning the treatment of expenditure incurred on producing internally-generated assets. IAS 38, Intangible assets, states that: 1. Expenditure incurred during the research phase should never be capitalised 2. Expenditure incurred during the development phase should always be capitalised Are the above statements true or false? Statement 1 Statement 1 OA. True False B. False False C. True True D. False True