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Which of the following statements about capitalizing costs is correct? Multiple Choice Capitalizing costs results in an immediate decrease in net income. All costs incurred

Which of the following statements about capitalizing costs is correct?
Multiple Choice
Capitalizing costs results in an immediate decrease in net income.
All costs incurred to acquire an asset may be capitalized.
Capitalizing a cost means to record it as an asset.
Capitalizing costs refers to the process of converting assets to expenses.

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