A Set of Activities Intended to Identify New Ideas and Technical

question 218

Multiple Choice

A set of activities intended to identify new ideas and technical advances that may result in new goods and services is called

• A) research and development.
• B) operations management.
• C) design planning.
• D) product design.
• E) horizon planning.

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Definitions:

Useful Life

The estimated period that an asset is expected to be usable for the purpose for which it was acquired, affecting its depreciation or amortization.

AASB 116

An Australian accounting standard that outlines the accounting treatment for property, plant, and equipment including recognition, depreciation, and impairment.

Revaluations

The process of adjusting the book value of a capital asset or currency to its current market value.

Property, Plant and Equipment

Long-term tangible assets held for business use and not expected to be converted to cash in the short term.