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Question 9 The following costs are incurred during the research and development phases of...

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Accounting

Question 9
The following costs are incurred during the research and development phases of a laser
bone scanner
Laboratory research aimed at the discovery of new
knowledge
Search for application of new research
findings
Salaries of research staff designing new laser bone
scanner
Material, labor, and overhead costs of prototype laser
scanner
Costs of testing prototype and design
modifications
Engineering costs incurred to advance the laser scanner to full production
stage (technological feasibility
reached)
Identify which of these are research phase items and will be immediately expensed under
GAAP and IFRS.
\
GAAP - $2,400,000; IFRS - $1,400,000
GAAP - $4,400,000; IFRS -$4,400,000
GAAP - $4,400,000; IFRS - $3,700,000
GAAP - $1,200,000; IFRS -$1,200,000
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