Ifa company develops its own invention, it does not show the costs of development as an asset
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Ifa company develops its own invention, it does not show the costs of development as an asset on its balance sheet. However, if a company purchases a patent from another company, it shows the entire purchase price as an intangible asset. Do you think GAAP is treating this issue fairly? Why would GAAP require patents to be accounted for in these ways? lop1
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Related Book For 
Accounting Information For Business Decisions
ISBN: 9780030224294
1st Edition
Authors: Billie Cunningham, Loren A. Nikolai, John Bazley
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