- CFA Exams
- CFA Level I Exam
- Topic 3. Financial Statement Analysis
- Learning Module 23. Long-lived Assets
- Subject 2. Intangible Assets
CFA Practice Question
Which of the following items has economic value, but is not recorded on the balance sheet as an asset?
A. Marketable securities carried as trading securities
B. Inventory carried at LIFO
C. Patents generated from internal research and development
Explanation: Internally-generated patents should be expensed.
User Contributed Comments 1
| User | Comment |
|---|---|
| jameshj | But I thought under IFRS, you can capitalise development but have to expense Research? |