Which of the following expenses can be capitalized?
I. Research costs incurred in developing a new medicine.
II. Purchase of intangibles for R&D activities which have alternative future uses.
III. Salaries of research personnel.
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A. B. C. D.A
US GAAP requires that all R&D costs be expensed immediately (unless they generate tangible or intangible assets which have alternative future uses which are measurable). R&D costs include salaries for research personnel.