Question: Indicate whether the following items are capitalized or expensed in the current year. (a) Purchase cost of a patent from a competitor. (b) Research costs.

Indicate whether the following items are capitalized or expensed in the current year.
(a) Purchase cost of a patent from a competitor.
(b) Research costs.
(c) Development costs (after achieving economic viability).
(d) Organizational costs.
(e) Costs incurred internally to create goodwill.

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