Under US GAAP, What Is the Expense Resulting from the Increase

question 42

Multiple Choice

Under U.S. GAAP, what is the expense resulting from the increase in the carrying amount of an asset retirement obligation?

• A) contingent expense
• B) accretion expense
• C) vested expense
• D) depletion expense

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Definitions:

Politeness

The practice of showing respect and consideration for others through courteous behavior and language.

Self-esteem

A measure of how much value and respect one has for oneself.

Strengths and Weaknesses

An assessment or analysis of the positive attributes and limitations of an entity, such as an organization, individual, or system.

Critical

Inclined to find fault or judge with severity, often too readily, involving analysis and evaluation.