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FASB Codification Project- In 2. Log on to FASB Codification data base using log in credentials in Course Materials 3. Research the codification and answer
FASB Codification Project- In 2. Log on to FASB Codification data base using log in credentials in Course Materials 3. Research the codification and answer the following question. YOU MUST CUT AND PASTE TEXT FROM THE FASB CODIFICATION TO SUPPORT YOUR SOLUTION. ANY CORRECT RESPONSE WITHOUT FASB CODIFICATION SUPPORT INCLUDED WILL RECEIVE ZERO CREDIT. BE PRECISE IN WHAT YOU ATTACH. DO NOT SUBMIT EXTRANEOUS MATERIAL.THE CASE: US GAAP requires research and development (R&D) costs to be expensed. Which of the following are considered by the FASB to be R&D costs? (can be more than one) a. Equipment purchased for R&D activities that have alternative future use b. Salaries of personnel engaged in R & D activities c. Development of software to be used in R & D activities
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