Under US GAAP, Which of the Following Costs Are Capitalized as as the Asset

question 44

Multiple Choice

Under U.S. GAAP, which of the following costs are capitalized as the asset value of an internally-developed patent?

• A) research and development costs
• B) legal costs for patent defense
• C) both R&D and legal defense costs
• D) No costs are capitalized for internally-developed patents.

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Definitions:

Extraverted Individual

A person characterized by outgoing, energetic behavior, who often finds energy in social interactions and external stimuli.

Enterprising Occupations

Careers that involve starting up and carrying out business ventures, including seeking opportunities for profit, making strategic decisions, and demonstrating leadership.

Artistic Occupations

Artistic occupations encompass jobs that involve creative or aesthetic expression, including roles in visual arts, performance, writing, and design.

John Holland's Theory

A career development theory that categories people and work environments into six types, suggesting that individuals will be happier and more productive if their work and environment type matches.