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Which of the following research and development related costs should be capitalized and depreciated over current and future periods? 12 – 14 Test Bank for Intermediate Accounting, Thirteenth Edition 53. Which of the following principles best describes the current method of accounting for research and development costs? A. Associating cause and effect b. Systematic and rational allocation c. Income tax minimization d. Immediate recognition as an expense How should research and development costs be accounted for, according to a Financial Accounting Standards Board Statement? A. Must be capitalized when incurred and then amortized over their estimated useful lives. B. Must be expensed in the period incurred. C. May be either capitalized or expensed when incurred, depending upon the materiality of the amounts involved. D. Must be expensed in the period incurred unless it can be clearly demonstrated that the expenditure will have alternative future uses or unless contractually reimbur
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