research and development


research and development
/rɪˌsɜ:tʃ ən dɪ'veləpmənt/ noun
1. scientific investigation which leads to making new products or improving existing products
The company spends millions on research and development.
Abbreviation R&D
2. activities that are designed to produce new knowledge and ideas and to develop ways in which these can be commercially exploited by a business
(NOTE: Research and development activities are often grouped together to form a separate division or department within an organisation.)
COMMENT: Research costs can be divided into (a) applied research, which is the cost of research leading to a specific aim, and (b) basic, or pure, research, which is research carried out without a specific aim in mind: these costs are written off in the year in which they are incurred. Development costs are the costs of making the commercial products based on the research.

Dictionary of banking and finance. 2015.

Look at other dictionaries:

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