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How is the cost of an intangible asset determined? How is the useful life of an intangible asset determined? Provide examples. Please define R &

How is the cost of an intangible asset determined?

How is the useful life of an intangible asset determined? Provide examples.

Please define R & D costs and explain how these are presented in the financial statements.

How is R&D treated in the financial statements? And why?

Each question requires 200-250 words response

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