Choose the correct word or words in parentheses. (Us, We) interns share information about our assignments

Which of the following research and development related costs should be capitalized and depreciated over current and future periods?

a. Research and development general laboratory building which can be put to alternative uses in the future b. Inventory used for a specific research project c. Administrative salaries allocated to research and development d. Research findings purchased from another company to aid a particular research project currently in process

In accounting, the terms debit and credit mean left and right, respectively.

a. true b. false