The professor wore both a belt and suspenders during lecture each day because he chose to:

How should research and development costs be accounted for, according to a Financial Accounting Standards Board Statement?

a. Must be capitalized when incurred and then amortized over their estimated useful lives. b. Must be expensed in the period incurred. c. May be either capitalized or expensed when incurred, depending upon the materiality of the amounts involved. d. Must be expensed in the period incurred unless it can be clearly demonstrated that the expenditure will have alternative future uses or unless contractually reimbursable.

A patent can only be claimed for a limited amount of time

Indicate whether the statement is true or false