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.

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CONTRA ENTRY, in accounting, is a ledger entry which is offset by an opposite entry, either a debit or credit.

4 Cs OF CREDIT are the four primary considerations that will affect a lenders decision to approve or decline your loan application. Known as the 4 C's of credit:

  1. Capacity - what is your ability to repay the loan? Do you have a job or another income source? Do you have other debts?
  2. Character - will you repay the loan? Have you used credit before? Do you pay your bills on time?
  3. Collateral - if you fail to repay your loan, is there something of value that you agree to forfeit? For example, if you are buying your first car, it could be used as collateral to insure that you will repay the loan. If you default, you lose your car.
  4. Capital (accumulation) - what are you worth? Do you have other assets, such as a savings account, car, or certificate of deposit that could be used to repay the debt?

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