Dow chemical corporation plans to build a laboratory dedicated to a special project. the company will not use the laboratory after the project is finished. under gaap, this laboratory should be:

a. expensed in the current year.

b. capitalized only.

c. none of the above

d. depreciated and expensed.

e. capitalized and depreciated.

Question

04-07-2017
Business

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Dow chemical corporation plans to build a laboratory dedicated to a special project. the company will not use the laboratory after the project is finished. under gaap, this laboratory should be:

a. expensed in the current year.

b. capitalized only.

c. none of the above

d. depreciated and expensed.

e. capitalized and depreciated.

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meerkat18 meerkat18 · Answer 1 · 2017-07-14T11:32:37+02:00

meerkat18 meerkat18

14-07-2017

The answer is it should be expensed in the current year which is letter A. Since they will not use the laboratory after the project they should incur expenses because according to GAAP, project-directed or highly-specific research structures and equipment with no alternating uses must be expensed as incurred.

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