Which of the Following Statements Is True Regarding Estimated Closure

question 78

Multiple Choice

Which of the following statements is true regarding estimated closure costs for municipal solid waste landfills,assuming that it is operating as an enterprise fund?

• A) The estimated closure costs are expensed fully at the time of the estimate.
• B) A portion of those future estimated costs is to be charged as an expense and a liability recorded based on a units-of-production method.
• C) Modified accrual principles apply and the amount expensed is limited to amounts expected to be paid during the year and within 60 days of year end.
• D) None of the above is true.

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