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FUNDAMENTAL CONCEPTS OF COST — Commercial Studies STD 10 — Question

ICSE BoardEnglish MediumSTD 10Commercial StudiesFUNDAMENTAL CONCEPTS OF COST2 Marks
Question
What is meant by research and development costs?
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Answer

Research and development costs are the expenses incurred in conducting research on new products, new techniques of production, new marketing methods, and developing new products and techniques. For Example, expenses of a laboratory in a pharmaceutical firm are research costs.

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