Under the traditional reporting method for infrastructure assets, which of the following are correct? (multiple answers are a possibility) Da new expenditures are written off over three years Ob. there does not have to be an entry to bring the original cost of the asset into the books and records of the entity c. new expenditures are immediately shown as expenses Od. new expenditures are immediately shown as expenditures e. new expenditures for the infrastructure must be capitalized and depreciated over the estimated useful life

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Under the traditional reporting method for infrastructure assets, which of the following are correct? (multiple answers are a possibility)
a. new expenditures are written off over three years
Ob. there does not have to be an entry to bring the original cost of the asset into the books and records of the entity
c. new expenditures are immediately shown as expenses
Od. new expenditures are immediately shown as expenditures
e. new expenditures for the infrastructure must be capitalized and depreciated over the estimated useful life
Transcribed Image Text:Under the traditional reporting method for infrastructure assets, which of the following are correct? (multiple answers are a possibility) a. new expenditures are written off over three years Ob. there does not have to be an entry to bring the original cost of the asset into the books and records of the entity c. new expenditures are immediately shown as expenses Od. new expenditures are immediately shown as expenditures e. new expenditures for the infrastructure must be capitalized and depreciated over the estimated useful life
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