Loazia inc. incurred the following costs during the year ended december 31, 2018: laboratory research aimed at discovery of new knowledge $270,000 costs of testing prototype and design modifications 75,000 quality control during commercial production, including routine testing of products 270,000 construction of research facilities having an estimated useful life of 6 years but no alternative future use 360,000 the total amount to be classified and expensed as research and development in 2018 is a. $675,000. b. $975,000. c. $705,000. d. $405,000.

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business.true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.