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Accounting practice in the extractive industries has changed from recognizing all pre-production costs as expense to carrying forward all pre-production costs. Required Outline the arguments

Accounting practice in the extractive industries has changed from recognizing all pre-production costs as expense to carrying forward all pre-production costs.

Required

Outline the arguments proposed for these extreme positions.

Do you agree with these practices?

What are the incentives for companies to prefer the use of each method?

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