The following items are excluded from research and development costs except

A) ongoing efforts to refine an existing product.
B) design of tools involving new technology.
C) introducing a new product.
D) quality control during commercial production.


B

Business

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Indicate whether the statement is true or false

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Firms treat expenditures to develop intangibles internally as assets under U.S. GAAP when _____ the point of technological feasibility; and under IFRS when _____ the point of technological feasibility

a. software development costs are incurred after; development costs are incurred generally after b. software development costs are incurred after; development costs are incurred generally before c. software development costs are incurred before; development costs are incurred generally before d. software development costs are incurred before; development costs are incurred generally after e. none of the above.

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What will be an ideal response?

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