What should really count as R&D?

Curious how other founders draw the line.

“Research” and “learning” are part of the job but at what point do you count it as REAL work and not just prep or useful learning?

Do you log it as R&D? Product development? Founder time? Or just part of the grind that doesn’t make it onto the books? Because I feel for the most part only the D in R&D gets booked it’s hard to categorize🤔

Founders, I’d like to know your take