Which of the following statements are correct? 1. Capitalized development expenditure must be amortized over a period not exceeding ten years 2. Capitalized development costs are shown in the statement of financial position under the heading of non-current assets 3. If certain criteria are met, research expenditure must be recognized as an intangible asset Select one: a. 2 only Ob. 2 and 3 only Oc 1 and 3 only Od. 1only D