Research and Development Costs Incurred in Developing a Patent Internally

question 60

True/False

Research and development costs incurred in developing a patent internally are not recorded as an intangible asset in the balance sheet,but rather are expensed directly in the income statement.

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Definitions:

Sinking

The process where land or objects gradually go down or submerge in water or another medium.

Ground

The solid surface of the Earth, or a reference point in electrical engineering for a return path for electric current.

Earth's Water

The total amount of water found on, under, and above the surface of the Earth, including oceans, ice caps, groundwater, lakes, and atmospheric water vapor.

Fresh Water

Water that has low concentrations of dissolved salts and other total dissolved solids, typically found in lakes, rivers, and groundwater.