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Under the full-cost approach to oil and gas accounting: 1. costs related to successful efforts are expensed and others capitalized 2. cost related to successful

Under the full-cost approach to oil and gas accounting:

1.

costs related to successful efforts are expensed and others capitalized

2.

cost related to successful efforts are capitalized and others expensed

3.

all costs are expensed as incurred

4.

all costs are capitalized as incurred

5.

only the cost of buildings and equipment are capitalized

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