Asked by
Camryn Powell
on Nov 13, 2024
Verified
Costs associated with normal research and development activities should be treated as intangible assets.
Intangible Assets
Intangible assets are non-physical assets possessed by a business, such as patents, trademarks, and copyrights, that have value and give the business certain rights.
Research And Development
Activities related to the innovation, introduction, and improvement of products and processes.
- Distinguish between the accounting treatment of tangible and intangible assets, including amortization and research and development costs.
Verified Answer
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Learning Objectives
- Distinguish between the accounting treatment of tangible and intangible assets, including amortization and research and development costs.
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