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New Ventures Corp

Question 56

Multiple Choice

New Ventures Corp., a publicly accountable entity, incurred the following costs in its research and development division: New Ventures Corp., a publicly accountable entity, incurred the following costs in its research and development division: At April 30, 2012, New Ventures determined that the project was technically feasible and commercially viable. New Ventures had sufficient resources and intentions to complete the project and was confident that there was demand in the marketplace for the product. How much, if any, of the costs can be capitalized for fiscal 2012? A) $0 B) $59,000 C) $66,000 D) $92,000 At April 30, 2012, New Ventures determined that the project was technically feasible and commercially viable. New Ventures had sufficient resources and intentions to complete the project and was confident that there was demand in the marketplace for the product. How much, if any, of the costs can be capitalized for fiscal 2012?


A) $0
B) $59,000
C) $66,000
D) $92,000

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