Development costs related to computer software that is to be sold, leased, or otherwise marketed should be accounted for in which of the following ways?
A) All software development costs should be recorded as R&D expense.
B) All software development costs should be capitalized.
C) All software development costs should be recorded as R&D expense until technological feasibility is established.
D) All software development costs should be recorded in R&D expense until the product is available for general release to customers.
C
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Answer the following statements true (T) or false (F)
1) Paid-in capital and retained earnings are internally generated equity. 2) The corporate charter identifies the maximum number of shares of stock the corporation may issue, which is called 'available for issue' stock. 3) The issue price is the price the stock initially sells for the first time it is sold. 4) Usually, the issue price exceeds par value because par value is normally set as a percentage of the issue price of the stock. 5) An underwriter usually assumes some of the risk of issuing stock by agreeing to buy all of the stock the firm cannot sell to its clients.
Connor is planning a bachelor party for his friend Kani and was hoping to travel to see a football game at a stadium in the Midwest. Kani’s other groomsmen insisted they fly to Vegas to have a weekend party there, without seeing any football games. Connor agrees to the Vegas bachelor party without argument. Which conflict-handling style is Connor is using, and why would he use it?
What will be an ideal response?
A department store has budgeted sales of 12,000 men's coats in September. Management wants to have 6,000 coats in inventory at the end of the month to prepare for the winter season. Beginning inventory for September is expected to be 4,000 coats. What is the dollar amount of the purchase of suits if each coat has a cost of $75?
A. $1,200,000. B. $900,000. C. $1,050,000. D. $750,000. E. $1,350,000.
Grays Company has inventory of 11 units at a cost of $6 each on August 1. On August 3, it purchased 21 units at $9 each. 13 units are sold on August 6. Using the perpetual FIFO inventory method, what amount will be reported as cost of goods sold for the 13 units that were sold?
A. $123. B. $143. C. $90. D. $88. E. $84.00.