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ForeverYoung Ltd is involved in the research and development of a new type of anti-age face cream.
For the research and development of it, has incurred the following expenditure at 30 June 2016:
After these activities, the company expects to reach a very large market for the product, which will generate thousands of dollars in revenue.
REQUIRED
Question 1) Determine how the expenditure would be treated for accounting purposes.
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