What is the accounting treatment for a sale of part of an interest in an unproved property?

a. The selling price is treated as a recovery of cost with no gain or loss recognized. However, if the property has been assessed on an individual basis and the selling price of the partial interest exceeds the net carrying value of the entire property, a gain or loss should be recognized. If the property has been assessed on a group basis, a gain or loss should be recognized if the selling price of the partial interest exceeds the original cost of the entire interest.

b. The selling price is treated as a recovery of cost with no gain recognized.

However, if the property has been assessed on an individual basis and the selling price of the partial interest exceeds the net carrying value of the entire property, a gain should be recognized. If the property has been assessed on a group basis, a gain should be recognized if the selling price of the partial interest exceeds the original cost of the entire interest.

c. If the unproved property that has been assessed for impairment on an individual basis is sold, a gain or loss should be recognized. If the unproved property has been assessed on a group basis, a gain should be recognized only if the selling price exceeds the original cost.

d. If the unproved property that has been assessed for impairment on a group basis is sold, a gain or loss should be recognized. If the unproved property has been assessed on an individual basis, a gain should be recognized only if the selling price exceeds the original cost.

e. None of these applies.