Ask Question
26 October, 16:10

Research and development costs:A. should be included in the cost of the patent they relate to. B. are capitalized and then amortized over a period not to exceed 20 years. C. are incurred as expenses only when R&D is successful. D. must be expensed when incurred under generally accepted accounting principles.

+1
Answers (1)
  1. 26 October, 16:29
    0
    D) must be expensed when incurred under generally accepted accounting principles.

    Explanation:

    Research and development costs are costs associated with developing new products or the discovery of new knowledge about scientific and technological goods and services.

    Before 1974, R&D costs were capitalized as intangible assets, but then in 1974 the Financial Accounting Standards Board (FASB) ruled that companies must expense all R&D costs when incurred.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Research and development costs:A. should be included in the cost of the patent they relate to. B. are capitalized and then amortized over a ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers