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RESEARCH AND DEVELOPMENT 1. IFRS requires that firms must expense all Research and Development costs as incurred. If Yes: Explain your answer If No: Explain

RESEARCH AND DEVELOPMENT
1. IFRS requires that firms must expense all Research and Development costs as incurred.
If Yes: Explain your answer
If No: Explain your answer
2. What is the reasoning used by the IASB for the treatment of research and development costs? Do you agree? Explain

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