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Given the following list of accounts with normal balances,what are the trial balance totals of the debits and credits?
New Knowledge
Information or insights gained that were previously unknown, contributing to the understanding or development of a subject area or field.
Research
A systematic investigation aimed at acquiring new knowledge, which in a business context can lead to new findings that may be applied to improving processes, products, or services.
Identifiability Criteria
The requirements that must be met for an asset or liability to be recognized separately in the financial statements, often relating to control, future economic benefits, or valuation.
Intangible Asset
An identifiable non-monetary asset without physical substance, like patents, copyrights, trademarks, and goodwill, that an organization uses for production or supply of goods or services, for rental to others, or for administrative purposes.
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