Examlex
Which of the following is NOT something you should be looking for during the "look" step?
Research and Development
Activities undertaken by companies to innovate and introduce new products or services; this includes basic research, applied research, and development of new technologies.
GAAP
GAAP stands for Generally Accepted Accounting Principles, which are a collection of commonly-followed accounting rules and standards for financial reporting.
Patent
A form of intellectual property protection that grants the patent holder exclusive rights to a process, design, or new invention for a specified period of time.
Expected Useful Life
The estimated duration for which an asset is expected to be economically usable by one or more users.
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