can we use the concept of deferred revenue expenditure in current practices?

Question

We have spent a huge amount for material approval in November 2013 and the benefit will be generated in the next couple of years. in this case can we treat this as deferred revenue expenditure by taking a proportionate cost in P&L for the year 2013 and the balance to be considered as a balance Sheet item (deferred revenue expenditure under Assets)

Answer 1

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