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

UNDERABSORBED BURDEN is where total employee costs, other than salaries, have not been fully allocated to products sold or services offered.

SANTIMS is a currency of Latvia.

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