A telecommunications company hasacquired a 3G license. The license could besold or licensed to a third party. However, themanagement intends to use it to operate awireless network, and the development ofthe network starts when the license isacquired. Should borrowing costs on theacquisition of the 3G license be capitalizeduntil the network is ready for its intendeduse? Respond in no more than three (3)sentences.

Qualifying Asset -: A Qualifying Asset is simply another asset that puts up with a substantial…

A telecommunications company ha acquired a 3G license. The license c sold or licensed to a third party. Ho management intends to use it to op wireless network, and the developm the not work otorto when the lio on

A telecommunications company ha acquired a 3G license. The license c sold or licensed to a third party. Ho management intends to use it to op wireless network, and the developm the not work otorto when the lio on

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A telecommunications company has
acquired a 3G license. The license could be
sold or licensed to a third party. However, the
management intends to use it to operate a
wireless network, and the development of
the network starts when the license is
acquired. Should borrowing costs on the
acquisition of the 3G license be capitalized
until the network is ready for its intended
use? Respond in no more than three (3)
sentences.

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