https://edugen.wileyplus.com/edugen/Iti/main.uni S Kimmel, Accounting, 6e End Ti

Question

https://edugen.wileyplus.com/edugen/Iti/main.uni S Kimmel, Accounting, 6e End Time: 08:14 PM / Remaining: 108 min. ES Multiple Choice Question 168 Research and development costs are capitalized and then amortized over a period not to exceed 20 years. should be included in the cost of the patent they relate to. must be expensed when incurred under generally accepted accounting principles are incurred as expenses only when R&D; is successful. Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SUBMIT ANSWE udy

Explanation / Answer

Research and Develepment cost must be expensed when incurred under generally accepetd accounting principle

Explanation:

As per GAAP all research and development expenditures be charged to expense as incurred.

As per IAS 38.54 all Research and Development cost must be charged to expense.

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