Often research and development costs provide com- panies with benefits that last a number of years. (For
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Often research and development costs provide com- panies with benefits that last a number of years. (For example, these costs can lead to the development of a patent that will increase the company's income for many years.) However, generally accepted account- ing principles require that such costs be recorded as an expense when incurred. Why?
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Financial Accounting Tools For Business Decision Making
ISBN: 9780471730514
4th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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