CFA Practice Question

There are 520 practice questions for this study session.

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?
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