Costs for which of the following activities would not be included as part of research and development (R&D) costs?
A) ?testing in search for or evaluation of product or process alternatives.
B) ?adaptation of an existing capability to a particular requirement or customer's need as part of a continuing commercial activity.
C) searching for applications of new research findings or of other knowledge?.
D) ?design, construction, and testing or preproduction prototypes and models.
B
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Royal Company purchased a dump truck at the beginning of 2014 at a cost of $60,000 . The truck had an estimated life of 6 years and an estimated residual value of $24,000 . On January 1, 2016, the company made major repairs of $20,000 to the truck that extended the life 1 year. Thus, starting with 2016, the truck has a remaining life of 5 years and a new salvage value of $8,000 . Royal uses the
straight-line depreciation method. What is the book value of the truck to be reported on the balance sheet at December 31, 2016? a. $44,000 b. $50,000 c. $56,000 d. $62,000
(CMA adapted, Dec 92 #9) In a business combination that is accounted for as a purchase and does not create negative goodwill, the assets of the acquired company are to be recorded on the books of the acquiring company at
a. original cost. b. original cost less accumulated depreciation. c. fair market value. d. book value. e. liquidation value.
Exchanges between producers and consumers are more difficult in an advanced economy because of
A. separation in time. B. separation of information. C. separation in values. D. spatial separation. E. All these answers are correct.
According to the International Trade Union Confederation (ITUC), which of the following countries scores highest for equality at work?
a. Uruguay b. China c. Egypt d. Columbia