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Currently, GAAP requires firms to expense research and development (R&D) costs as period costs. Therefore, when the resulting product is sold, R&D costs are not

Currently, GAAP requires firms to expense research and development (R&D) costs as period costs. Therefore, when the resulting product is sold, R&D costs are not part of reported product costs. Does this mean that R&D costs are irrelevant for decision making?

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