How Should Research and Development Costs Related to Internally Developed

question 171

Multiple Choice

How should research and development costs related to internally developed intangible assets be treated?

• A) They should be capitalized in the patents account.
• B) They should be expensed in the period incurred.
• C) They should be capitalized in the research and development costs account.
• D) They should be amortized over the expected economic life of the new product.

---

Definitions:

Criminal Background Check

A process of looking up and compiling criminal records, commercial records, and financial records of an individual or an organization.

Professional Objective

A brief, general statement that demonstrates a career goal.

Résumé

A document summarizing a person's job experience, education, skills, and achievements, typically used to apply for new positions or career opportunities.

Goals

are desired outcomes or objectives people or organizations strive to achieve through planned actions.