Research and development costs
a. are intangible assets.
b. may result in the development of a patent.
c. are easily identified with specific projects.
d. all of the above.
Answer: b. may result in the development of a patent.
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A customer invests $20,000 in a DPP and signs a recourse note for $50,000. During the first year of operation, the customer receives a cash distribution from the partnership of $15,000. At year end, the customer receives a K-1 statement reporting his share of partnership losses of $75,000. How much of the loss may the customer deduct from passive income?
A) 55000 B) 0 C) 75000 D) 35000
One of the primary benefits of using an enterprise resource planning system is the short time period required for implementation
Indicate whether the statement is true or false