New Ventures Corp

question 56

Multiple Choice

New Ventures Corp., a publicly accountable entity, incurred the following costs in its research and development division: At April 30, 2012, New Ventures determined that the project was technically feasible and commercially viable. New Ventures had sufficient resources and intentions to complete the project and was confident that there was demand in the marketplace for the product. How much, if any, of the costs can be capitalized for fiscal 2012?

• A)$0
• B)$59,000
• C)$66,000
• D)$92,000

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Definitions:

IT Consulting

A professional service that involves advising organizations on how best to use information technology to meet their business objectives.

Web Marketing

The process of promoting a business, product, or service over the Internet, utilizing tools like social media, email, SEO, and online advertising.

Intelligent Workplace

A work environment enhanced with technology that facilitates smart workflows, collaboration, and productivity.

Productivity Software

Software applications that enable users to produce work more efficiently, such as word processors, spreadsheets, and presentation programs.