Indicate which of the following accounting methods are allowed for the computation of earnings and...
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Indicate which of the following accounting methods are allowed for the computation of earnings and profits. aFor depletion, E & P requires which method? Cost depletionPercentage depletion bWhen accounting for longterm contracts, E & P rules specify which method? Completed contractPercentage of completion cFor depreciation, E & P requires which method? ADSMACRS dFor intangible drilling costs, E & P rules specify which treatment? Currently expensedAmortized over months
Indicate which of the following accounting methods are allowed for the computation of earnings and profits.
aFor depletion, E & P requires which method?
Cost depletionPercentage depletion
bWhen accounting for longterm contracts, E & P rules specify which method?
Completed contractPercentage of completion
cFor depreciation, E & P requires which method?
ADSMACRS
dFor intangible drilling costs, E & P rules specify which treatment?
Currently expensedAmortized over months
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