Intercontinental Oil and Gas Company drilled an exploratory well that found reserves, but the reserves could not

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Intercontinental Oil and Gas Company drilled an exploratory well that found reserves, but the reserves could not be classified as proved at that time. No major capital expenditure was required. How should the costs of the well be handled, assuming the company attention is currently focused on other projects?

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Fundamentals Of Oil And Gas Accounting

ISBN: 9781593701376

5th Edition

Authors: Charlotte J. Wright, Rebecca A. Gallun

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