GAAP Require That Research and Development Costs to Develop a New

question 202

Multiple Choice

GAAP require that research and development costs to develop a new product be

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

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Definitions:

Evidence

Information or facts that are used to support the truth or validity of an argument or hypothesis.

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A practice of focused attention, mindfulness, or contemplation with the goal of achieving mental clarity, emotional calmness, and psychological balance.