Merck Pharmaceutical Company has many scientists working in their labs trying to develop a new drug to treat congestive heart failure.Following U.S.Generally Accepted Accounting Principles,the cost of this research and development must be:
A) set up as an intangible asset and not amortized.
B) set up as an intangible asset and amortized over 20 years.
C) set up as an intangible asset and tested for impairment on a yearly basis.
D) expensed as incurred.
Correct Answer:
Verified
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