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Question 24 Merck Pharmaceutical Company has many scientists working in their labs trying to...

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Accounting

Question 24
Merck Pharmaceutical Company has many scientists working in their labs trying to develiop
a new drug to treat congestive heart failure. Following U.S. Generally Aocepted Aoopurting
Principles, the cost of this research and development must be:
recorded as an intangible asset and not amortized.
expensed as incurred.
recorded as an intangible asset and amortized over 20 years.
recorded as an intangible asset and tested for impairmert on a yearty basis.
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