SuperIdeas Corp, a publicly accountable entity, incurred the following costs in its research and development division: At August 1, 2012, SuperIdeas determined that the project was technically feasible but not commercially viable. How much, if any, of the costs can be capitalized for fiscal 2012?
A)$0
B)$44,000
C)$59,000
D)$92,000

Question

SuperIdeas Corp, a publicly accountable entity, incurred the following costs in its research and development division:  At August 1, 2012, SuperIdeas determined that the project was technically feasible but not commercially viable. How much, if any, of the costs can be capitalized for fiscal 2012?
A)$0 
B)$44,000 
C)$59,000 
D)$92,000

Quizplus · Accepted Answer

The Answer is A

SuperIdeas Corp, a Publicly Accountable Entity, Incurred the Following Costs