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3. Indicate whether the following costs should be expensed (E) or capitalized (C) depending on whether the company uses successful efforts or the full cost
3. Indicate whether the following costs should be expensed (E) or capitalized (C) depending on whether the company uses successful efforts or the full cost method of accounting. Successful Efforts Full Cost Expense Capital Expense Capital Acquisition costs G&G costs Exploratory dry holes Successful exploratory wells Development wells, dry Development wells, successful Production facility costs Production costs
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