Which of the following statements about intangible assets is/are true?

(1) All intangible assets must be reported in the statement of financial position

(2) If certain criteria are met, research expenditure and development expenditure must be

recognised as an intangible asset

(3) Intangible assets which have definite useful life must be amortised

a.1 and 3

b.None of the statements

c.2 and 3

d. 3 only