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please answer the 2 Q QUESTION 16 Wahaj Energy Corporation acquired a lease with a three-year primary term, paying $50 per acre. During the next
please answer the 2 Q QUESTION 16 Wahaj Energy Corporation acquired a lease with a three-year primary term, paying $50 per acre. During the next two years, Wahaj drilled four dry holes in the property. With only one more year of the primary term left, Wahaj still intends to try one more time. Should any impairment be recognized on the property? A. Impairment should be recognized at the end of the second year OB. Impairment should not be recognized at all. oc. Impairment should be recognized at the end of the third year OD. Impairment should not be recognized at the end of the second year but recognized at the end of the third year. QUESTION 17 When company obtain a shooting rights with an option to lease O A. Shooting rights cost should be capitalized. OB. If the property is leased the option cost should be expenses oc. If the property is leased, the option cost should be capitalized OD. If the property is not lease, the option cost should be capitalized
please answer the 2 Q
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