Question: During the current year, a company spends $ 5 0 , 0 0 0 on research an development for a new drug to cure liver

During the current year, a company spends $

50, 000

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

50, 000

trans: have on this year's financial statements?

Increase revenues

Decrease revenues

increase assets

Increase expenses

During the current year, a company spends $ 5 0 ,

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