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Subsidiary property records should be routinely reconciled to the general ledger. Controls should provide for: a. computation of depletion for both tax and financial reporting
Subsidiary property records should be routinely reconciled to the general ledger. Controls should provide for: a. computation of depletion for both tax and financial reporting purposes b. the proper capitalization or expensing of exploration costs c. identification of amounts recorded for oil and gas properties that are not realizable d. All of the choices
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