Answer:
D) must be expensed when incurred under generally accepted accounting principles.
Explanation:
Research and development costs are costs associated with developing new products or the discovery of new knowledge about scientific and technological goods and services.
Before 1974, R&D costs were capitalized as intangible assets, but then in 1974 the Financial Accounting Standards Board (FASB) ruled that companies must expense all R&D costs when incurred.
