Question: 1) Intangible Assets are initially recorded at: A) fair value B) present value 3) cost 4) expected fair value 2) GAAP requires that research and

1) Intangible Assets are initially recorded at:

A) fair value

B) present value

3) cost

4) expected fair value

2) GAAP requires that research and development costs must be:

1) capitalized.

2) accumulated until the existence of future benefits is determined.

3) expensed in part and capitalized in part.

4) expensed as incurred.

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