Question

pioneer company incurs research and development costs of $200,000 in 2013 of which $50,000 of these costs relate to development activities because certain criteria have been met which suggest that an intangible asset has been created. which one is true in terms of the difference in income between reporting using u.s. gaap and ifrs in 2013?

Answer 1

According to US GAAP, $200,000 should be documented as research and development expenses in 2011. As a result, option (C) is accurate.

What is the research and development expense?

Direct costs associated with a company's efforts to create, design, and improve its goods, services, technology, or procedures are known as research and development (R&D) expenses. R&D costs are often highest in the industrial, technological, healthcare, and pharmaceutical industries.

R&D costs cover the cost of the product's initial design and development as well as any future improvements that you and your team decide to make. R&D costs are incorporated into operational expenses as a whole and are often shown as separate line items on financial statements.

Learn more about the research and development expense, from:

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