Question: ABC spends $ 5 0 , 0 0 0 this year in research and development for a new drug to cure liver damage. By the

ABC spends $

50, 000

this year in research and development for a new drug to cure liver damage. By the end of the year, management feels confident that the new drug will gain FDA approval and lead to higher future sales. What impact will the $

50, 000

spending have on this year's financial statements? Multiple ChoiceIncrease Expenses.Decrease Revenues.Increase Assets.Increase Revenues.

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