RESEARCH & DEVELOPMENT Definition

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RESEARCH & DEVELOPMENT (R&D) is research as a planned activity aimed at discovery of new knowledge with the hope of developing new or improved products and services. Development is the translation of the research findings into a plan or design of new or improved products and services.

Learn new Accounting Terms

CONTINGENT is a result that is determined by conditions or circumstances not yet established.

FLAT RATE is a per unit price that remains constant regardless of the volume purchased.

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